California Governor Newsom Greenlights Crypto Regulation Bill for 2025

THE Invoice will mandate crypto companies has defend financial recordings And allow regulators has to drive checks on these entities.

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California Governor Gavin Newsom has approved A cryptocurrency Invoice that applied more strict regulations on companies conduct crypto operations together has to start In 18 month.

In A statement published on October 13, Newsom declared that THE Invoice title THE 'Digital Financial Assets Law", would be TO DO he OBLIGATORY For both people And companies has get A Department of Financial protection And Innovation Licence has to commit In digital financial active business activities.

THE Invoice East program has come In effect on July 1, 2025.

He draw A comparison has from California money transmission laws, which to forbid people Since conduct money transmission business without A Licence Since THE Commissioner of Financial protection And Innovation.

THE new crypto Invoice will allow THE department has impose strict Audit requirements on crypto companies as GOOD as force them has defend registration requirements. THE statement noted:

"[This Invoice] would be require A licensed has maintain [...] For 5 years After THE date of THE activity, certain Recordings, including A general register maintained has less monthly that lists all assets, Liabilities, capital, income, And expenses of THE license holder. »

He further clarifies that companies not conform with THE Invoice will confront enforcement measurements.

Related: Coin Shares said WE not late In crypto adoption And regulation

Around This time last year, Newsom decreases has sign A similar Invoice that aiming has establish A Licence And regulate...