HawkInsight

  • Contact Us
  • App
  • English

The California Legislature officially submits the Bitcoin Rights Act numbered AB-1052

Internet reports that the California Legislature recently officially submitted the Bitcoin Rights Act numbered AB-1052, which aims to provide legal protection for the autonomous custody of digital assets. The bill was introduced by Juan Carrillo Valencia, chairman of the California Legislature's Banking and Finance Committee, and was officially announced on the social media platform X by the non-profit organization "Satoshi Action Fund" on March 29. Bill AB-1052 contains a number of provisions that protect users of digital assets: explicitly recognizing the autonomous custody rights of Bitcoin and other digital assets; prohibiting government agencies from taxing or imposing restrictions solely because the assets are used for payments; and establishing a legal framework for handling unclaimed digital assets to ensure that these assets are held by licensed custodians. In addition, the bill seeks to amend the Political Reform Act of 1974 to prohibit public officials from issuing, sponsoring or promoting any digital asset, security or commodity to reduce the impact of political factors on emerging financial technologies. Proponents believe the bill could become a legislative template for other jurisdictions. They said California's passage of AB-1052 could spark a national discussion of the regulatory framework and prompt other states to take similar measures.

Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.

NewFlashHawk Insight
More