California Revisits Stringent Licensing for Crypto Businesses with New Bill AB 39 - Here's What You Need to Know

California is once again taking steps to tighten crypto regulation with a new bill, AB 39, introduced on Tuesday.
The legislation follows a previous attempt in February 2022, when the state introduced AB 2269. The older bill also proposed strict licensing requirements for companies engaged in digital financial activities with California residents. Modeled after New York’s BitLicense, it also sought to impose hefty reporting and operational responsibilities on such entities....
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