California Passes Landmark Crypto Rights Bill
Key Takeaways
California has taken a significant step toward the legal recognition of Bitcoin and other digital assets with Bill AB 1052. The legislation protects the right to self-custody, allows private crypto payments, and limits conflicts of interest among public officials. This positions California as a pioneer among U.S. states in dealing with digital currencies.
What’s Behind Bill AB 1052?
The revised bill AB 1052, formerly known as the “Money Transmission Act,” was introduced on March 28, 2025, by Assemblymember Avelino Valencia. With the renaming to “Digital Assets,” the bill places a clear focus on cryptocurrencies. Its goal is to recognize digital assets like Bitcoin as legitimate means of payment in private transactions and to strengthen user rights.
User Rights: Self-Custody and Free Use
A central aspect of the law is the right to self-custody. You are allowed to store your digital assets without government restrictions in hardware wallets or self-hosted wallets. In addition, you are permitted to use cryptocurrencies as a means of payment in private settings—such as when purchasing goods or services.
Such transactions will now be considered legally valid. Public authorities may not discriminate against or tax digital payments solely based on their form.
Ethics and Transparency in Public Service
AB 1052 also includes provisions to prevent conflicts of interest. Public officials are prohibited from promoting or endorsing digital assets if doing so could result in personal gain. This measure aims to build trust in how government entities handle emerging financial technologies.
What Happens to Inactive Crypto Accounts?
Another aspect concerns unused crypto assets. If an account remains inactive for more than three years, the state may take possession of those assets (a process known as escheatment). In such cases, the assets—and if available, the private keys—must be handed over to a state-designated custodian by no later than 2027.
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California as Part of a Larger Trend
With this legislation, California joins a growing number of U.S. states implementing proactive crypto regulation. Around 100 legislative initiatives concerning digital assets are currently underway in 35 states. States like Texas and Kentucky have introduced similar measures.
Thanks to its economic significance and as home to major crypto companies like Ripple, Solana Labs, and Kraken, California could play a central role in shaping the national crypto strategy.
Bitcoin Price: Current Developments
At the time the bill was passed, the price of Bitcoin stood at approximately USD 81,400—a decline of 1.3% over 24 hours. Despite short-term fluctuations, institutional interest remains high, partly due to increasing regulatory clarity in the U.S.
Our Assessment
With AB 1052, California is sending a strong signal for the future of digital assets. The law creates clear guidelines for users, businesses, and authorities. In particular, the right to self-custody and the recognition of cryptocurrencies as a payment method enhance financial autonomy. At the same time, the regulation of conflicts of interest promotes greater transparency in the public sector.
For crypto users in California, this means more legal certainty and freedom when dealing with digital currencies. This law could also serve as a model for other states.
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