βοΈ California Crypto Law Is Live: Unlicensed Platforms Now Face $100K/Day Fines
California's Digital Financial Assets Law (DFAL) officially took effect July 1, creating one of the most aggressive state-level crypto licensing regimes in the US. Any platform exchanging, storing, or issuing digital assets with California residents must hold a DFPI license or face civil penalties up to $100,000 per day. Firms also need a minimum $100K net worth and $500K surety bond to qualify. Not financial advice. Is California setting the blueprint for federal action, or will crypto firms just relocate to friendlier states?
β‘ 55 buzzing
569 views
π 0 subscribed