On Friday, California Governor Gavin Newsom approved Assembly Bill 39, establishing the Digital Financial Assets Law. The California Governor issued a statement addressed to the California State Assembly, saying, “Beginning July 1, 2025, this bill requires the Department of Financial Protection and Innovation (DFPI) to create a robust regulatory framework, including licensure and enforcement authority, for certain crypto activities.” The bill gives the DFPI the authority to make rules, with an 18-month implementation date to protect consumers and tackle industry trends. Governor Newsom had previously vetoed the bill ... (full story)