Cryptocurrency

New California State Bill to Mandate Licenses for Crypto Exchanges, Back Bank-Issued Stablecoins

New California State Bill to Mandate Licenses for Crypto Exchanges, Back Bank-Issued Stablecoins

California’s awaited Digital Financial Assets Law will mandate crypto exchanges to apply and bag operational licenses in the state. In addition, the bill would also direct stablecoin issuers to have a bank charter. Californian Governor Gavin Newsom can approve or veto this bill by September 30.

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