California Bill Clears Committee, Aiming to Protect Cryptocurrency Users’ Rights

California Assembly Bill 1052, also known as the ‘Digital Assets Bill’ (formerly the Money Transmission Act), advanced from a committee vote with bipartisan support on April 21. Introduced by Assembly Member Avelino Valencia in February and amended at the end of March, this bill seeks to safeguard cryptocurrency users and investors by promoting their right to self-custody their digital assets. The legislation explicitly authorizes individuals and businesses to accept crypto as payment while affirming its legal validity for private transactions within California’s jurisdiction.