California has introduced amendments to its money transmission bill, now called Assembly Bill 1052, focusing on Bitcoin and crypto investor protections. These changes aim to secure self-custody rights for the nearly 40 million residents of the state. The bill, amended by Democrat Avelino Valencia, replaces the original title and includes several key provisions to protect digital asset use and transactions. It allows digital financial assets as valid payment forms and prohibits taxation or restrictions based solely on their payment use. Additionally, the bill expands the Political Reform Act of 1974 to prevent public officials from engaging in transactions involving digital assets that could create conflicts of interest. The legislation is currently in the desk process, awaiting its first reading. CEO of Satoshi Action Fund, Dennis Porter, highlighted the potential national implications of the bill, suggesting that what passes in California could set a precedent for other states. This initiative aligns with a growing number of Bitcoin-related measures at the state level, as other states also grapple with regulations surrounding the digital asset space.

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