California may allow state departments to accept cryptocurrency for certain payments.
A new bill, Assembly Bill 1180 (AB 1180), has passed the State Assembly with full support, 68 votes in favor, none against, and advances to the Senate for review.
The bill would require the Department of Financial Protection and Innovation (DFPI) to create rules that let people use crypto to pay fees and other charges under the state’s Digital Financial Assets Law.
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This law already sets the basic framework for how digital assets are handled in California, and the DFPI is in charge of making sure financial services operate fairly and safely.
If the Senate also approves AB 1180 and Governor Gavin Newsom signs it, the new rules would take effect starting July 1, 2026. A pilot program would be rolled out and tested through January 1, 2031, according to Democratic Assembly member Avelino Valencia, the bill’s sponsor.
During this time, the DFPI would monitor how the system works and report back with updates and any problems they encounter. That report is expected by January 1, 2028, and would include transaction data and any technical or legal issues.
Only those licensed by the DFPI would be allowed to process crypto transactions within this system.
On June 2, crypto industry groups urged US lawmakers to pass the stablecoin bill, the GENIUS Act, without unrelated add-ons. What did they say? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
