California Delays Implementation of Crypto Money Transmitter License until July 2026
Release Date: 11/01/2024
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info_outlineFrom the BitAML Blog:
California’s cryptocurrency landscape was poised for significant changes with the signing of AB39 in October 2023, a bill that created a new and dedicated regulatory framework for digital financial assets.
Recognizing the combination of state budget challenges and the complexity of implementation, the state delayed implementation of licensing and oversight until July 2026. This one-year extension could provide a little breathing room for businesses while allowing regulators the time to craft and properly build a comprehensive and sustainable system that sets California apart as a leader in the U.S. crypto market.