Posted on 10/16/2023 8:15:31 PM PDT by lowbridge
California Governor Gavin Newsom signed a crypto licensing bill on Friday, set to take effect in July 2025.
Considered California's answer to New York's "BitLicense," the Digital Financial Assets Law faced heavy industry criticism but was passed by the U.S. state's Assembly in September 2022.
The law requires California's Department of Financial Protection (DFPI) and Innovation to create a regulatory framework for crypto. The framework includes a licensing regime and gives the department enforcement and rulemaking authority over the sector. The DFPI also gets an 18-month implementation period to ensure "the adopted regulatory framework can be thoughtfully tailored to address industry trends and mitigate consumer harm," the letter said.
(Excerpt) Read more at coindesk.com ...
Good luck “regulating” BitCoin.
It is hilarious how they’re trying to create ‘permission’ for a system designed to never need their permission.
They could stop it by turning off the Interwebs, but they’d be turning off their total surveillance system when they did.
That would present an opportunity to hunt them down and kill them.
No way they can do that.
Less freedom and more clamping down. Always “for the people” with these communists.
Must...tax...every...last...dime...
Why do they think we need their permission or oversight? I have had my fill of leftist authoritarian California trying to call the shots for everyone else.
If a bill came before Gov. Newsom with just one word BECAUSE he would sign it.
He’ a younger Joe Biden in the works
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