California Assembly Passes Bill Enabling Cryptocurrency Transactions

California is taking a significant step towards embracing cryptocurrency as a form of payment, with the unanimous passage of Assembly Bill 1180 (AB 1180) in the State Assembly. The bill now heads to the Senate for further consideration after receiving a 68-0 vote on June 2, signaling a major move toward modernizing the state’s digital finance approach. The bill establishes that the Department of Financial Protection and Innovation (DFPI) will be responsible for drafting regulations allowing select fees and transactions under the Digital Financial Assets Law (DFAL) to be paid using cryptocurrencies.