On October 13th, California Governor Gavin Newsom signed into law the Digital Financial Assets Act, which was passed by the state legislature in September 2022 and is set to take effect in July 2025. The Digital Financial Assets Act will require the California Department of Financial Protection and Innovation (DFPI) to establish a regulatory framework for cryptocurrency, including a company licensing system, and grant the department the authority to enforce and develop regulations related to the crypto industry.
"Guarding Against Scams! California's Cryptocurrency ATMs Set Daily Limit of $1,000 per Person"