California 20252026 Regular Session Status: To Executive 1 D cosponsors

SB 97 — Digital financial assets: stablecoins.

Last action — Chaptered by Secretary of State. Chapter 52, Statutes of 2026.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been sent to the executive. Introduced January 23, 2025. It awaits signature.

Next likely step: the executive signs it into law or issues a veto.

Prognosis

Likely to advance 64% · moderate confidence

Where this bill stands today.

Odds of enactment

Moderate

How often bills like it became law.

  • To Executive

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 D).

  • Cleared a recorded vote

    Passed 8 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

In plain language

This bill updates regulations for stablecoins and digital financial asset businesses.

The bill modifies existing laws regarding digital financial assets and stablecoins, including licensing requirements and reporting obligations. It also clarifies certain definitions and removes specific provisions on stablecoins.

What this means for you
  • Consumers: This means consumers may experience changes in how digital financial asset transactions are managed, particularly regarding stablecoins.

Summary

(1) Existing law, the Digital Financial Assets Law, prohibits a person, on or after July 1, 2026, from engaging in digital financial asset business activity, or holding itself out as being able to engage in digital financial asset business activity, with, or on behalf of, a resident, unless any of certain criteria are met, including that the person is licensed with the Department of Financial Protection and Innovation, as prescribed, or the person submits an application on or before July 1, 2026, and is awaiting approval or denial of that application. This bill would revise the above-described latter criterion to specify that the person submits a completed application, as provided. The Digital Financial Assets Law authorizes the Commissioner of Financial Protection and Innovation to issue a conditional license to an applicant who holds or maintains a license to conduct virtual currency business activity in the State of New York, as specified, provided the license was issued or approved no later than January 1, 2023. This bill would revise the above-described authorization to require that the license be issued or approved no later than January 1, 2025. (2) The Digital Financial Assets Law defines "digital financial asset business activity" to mean any of specified activities, including, among others, exchanging, transferring, or storing a digital financial asset, as specified, or exchanging one or more digital representations of value used within one or more online games, game platforms, or family of games, as provided. This bill would remove exchanging one or more digital representations of value used within one or more online games, game platforms, or family of games from the definition of "digital financial business activity." The bill would specify that a "digital financial asset" does not include, among other things, a transaction in which a merchant grants digital representations of value that primarily relate to an affinity or rewards program, as provided, or a digital representation of value issued by or on behalf of a publisher and used primarily within online games or game platforms and that is not otherwise a digital financial asset. The Digital Financial Assets Law declares that its provisions do not apply to specified activity, including by a person who does not receive compensation for providing digital financial asset products or services or for conducting financial asset business activity or that is engaged in testing products or services with the person's own funds. This bill would specify that the above-described exclusion includes a person who merely retains the ability to terminate, suspend, or interrupt a digital financial transaction solely to prevent unauthorized or fraudulent activity and who is not compensated for that service. The Digital Financial Assets Law prohibits a covered person from exchanging, transferring, or storing a digital financial asset that is a stablecoin or engaging in digital financial asset administration of a stablecoin, as specified, unless certain conditions are met. However, existing law authorizes a covered person to exchange, transfer, or store a stablecoin or engage in digital financial asset administration of that stablecoin, as specified, if the stablecoin is approved by the commissioner and complies with certain requirements, restrictions, or prohibitions established by the commissioner. This bill would repeal the above-described provisions related to stablecoins. (3) The Digital Financial Assets Law requires a licensee to submit an annual report, as provided, containing specified information, including a description of any data security breach or cybersecurity event of the licensee. Existing law requires a licensee to file with the department, as applicable, a report of, among other things, a change in the licensee's business for the conduct of its digital financial asset business activity with, or on behalf of, a resident that meets one of specified criteria, including that the proposed change might raise safety and soundness or operational concerns. This bill would revise the above-described annual report to instead include a description of any material data security breach or cybersecurity event of the licensee. The bill would revise the specified criteria in the requirement to file the above-described report of a change in the licensee's business to instead include that the proposed change might raise material safety and soundness or operational concerns. Before engaging in digital financial asset business activity with a resident, the Digital Financial Assets Law requires a covered person, defined as a person required to obtain a license pursuant to that law, to disclose, as provided, certain information, including the resident's right to at least 14 days' prior notice of specified changes that have a material impact on digital financial asset business activity with the resident, or the policies applicable to the resident's account. Existing law requires a covered exchange, as provided, to certify on a form provided by the department that the covered exchange has taken specified actions, except for any digital financial asset approved for listing on or before January 1, 2023. In a transaction for or with a resident, existing law prohibits the covered exchange from interjecting a third party between the covered exchange and the best market for the digital financial asset in a manner inconsistent with specified requirements. This bill would prohibit the 14-day notice requirement from applying to changes in terms, conditions, or policies that are reasonably necessary to address a risk of loss to the resident or covered person, to the extent that the change does not relate to the fee schedule. The bill would instead exclude from the above-described certification requirement a digital financial asset approved for listing on or before January 1, 2025. The bill would require a covered person to provide and make available an up-to-date description of the order execution practices of the covered person, as specified. The bill would exempt a transaction in which a resident receives stablecoin, as defined, in exchange for legal tender or bank or credit union credit from the above-described prohibition against interjecting a third party. The Digital Financial Assets Law requires an applicant, as provided, to create, and during licensure, maintain in a record specified policies and procedures. Existing law requires these policies and procedures be disclosed separately from other disclosures made available to a resident, as specified, except for, among other things, an adopted information security program or an operational security program. This bill would instead exclude from the above-described requirement to disclose separately from other disclosures programs with information that is sensitive to potential security risks, as specified. This bill would declare that it is to take effect immediately as an urgency statute.

Bill Text

Action History

  1. Chaptered by Secretary of State. Chapter 52, Statutes of 2026.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 6 p.m.

  4. Assembly amendments concurred in. (Ayes 38. Noes 0.) Ordered to engrossing and enrolling.

  5. Urgency clause adopted.

  6. Unanimous consent granted to take up without reference to file.

  7. In Senate. Concurrence in Assembly amendments pending.

  8. Read third time. Urgency clause adopted. Passed. Ordered to the Senate.

  9. Read third time and amended.

  10. Ordered to third reading.

  11. Ordered to third reading.

  12. From inactive file.

  13. Notice of intention to remove from inactive file given by Assembly Member Garcia.

  14. Ordered to inactive file on request of Assembly Member Aguiar-Curry.

  15. Read second time. Ordered to third reading.

  16. From committee: Do pass. (Ayes 15. Noes 0.) (August 20).

  17. From committee: Do pass and re-refer to Com. on APPR. (Ayes 13. Noes 0.) (July 8). Re-referred to Com. on APPR.

  18. From committee: Do pass and re-refer to Com. on P. & C.P. (Ayes 9. Noes 0.) (July 7). Re-referred to Com. on P. & C.P.

  19. Assembly Rule 56 suspended.

  20. June 23 hearing postponed by committee.

  21. Referred to Coms. on B. & F. and P. & C.P.

  22. In Assembly. Read first time. Held at Desk.

  23. Read third time. Passed. (Ayes 38. Noes 0. Page 1438.) Ordered to the Assembly.

  24. Read second time. Ordered to third reading.

  25. Ordered to second reading.

  26. Read third time and amended.

  27. Ordered to third reading.

  28. From consent calendar on motion of Senator Gonzalez.

  29. Read second time. Ordered to consent calendar.

  30. From committee: Be ordered to second reading pursuant to Senate Rule 28.8 and ordered to consent calendar.

  31. Set for hearing April 28.

  32. Read second time and amended. Re-referred to Com. on APPR.

  33. From committee: Do pass as amended and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 13. Noes 0. Page 705.) (April 8).

  34. From committee: Do pass and re-refer to Com. on JUD. with recommendation: To consent calendar. (Ayes 7. Noes 0. Page 632.) (April 2). Re-referred to Com. on JUD.

  35. Set for hearing April 8 in JUD. pending receipt.

  36. From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.I.

  37. Set for hearing April 2.

  38. Re-referred to Coms. on B. & F.I. and JUD.

  39. From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.

  40. Referred to Com. on RLS.

  41. From printer. May be acted upon on or after February 23.

  42. Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Passed 75 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Democratic 56003
Republican 18001
Unaffiliated 1000
Total 75004
% of votes cast 95%0%0%5%
How each member voted (79)
Member Party Vote
Ávila Farías — Yea
Addis, Dawn Democratic Yea
Aguiar-Curry, Cecilia M. Democratic Yea
Ahrens, Patrick Democratic Yea
Alvarez, David Democratic Yea
Arambula, Joaquin Democratic Yea
Bains, Jasmeet Democratic Not Voting
Bauer-Kahan, Rebecca Democratic Yea
Bennett, Steve Democratic Yea
Berman, Marc Democratic Yea
Boerner, Tasha Democratic Not Voting
Bonta, Mia Democratic Yea
Bryan, Isaac G. Democratic Yea
Calderon, Lisa Democratic Yea
Caloza, Jessica Democratic Yea
Carrillo, Juan Democratic Yea
Connolly, Damon Democratic Yea
Elhawary, Sade Democratic Yea
Fong, Mike Democratic Yea
Gabriel, Jesse Democratic Yea
Garcia, Robert Democratic Yea
Gipson, Mike A. Democratic Yea
González, Mark Democratic Yea
Haney, Matt Democratic Yea
Harabedian, John Democratic Yea
Hart, Gregg Democratic Yea
Irwin, Jacqui Democratic Yea
Jackson, Corey A. Democratic Yea
Kalra, Ash Democratic Yea
Krell, Maggy Democratic Yea
Lee, Alex Democratic Yea
Lowenthal, Josh Democratic Yea
McKinnor, Tina Democratic Yea
Muratsuchi, Al Democratic Not Voting
Nguyen, Stephanie Democratic Yea
Ortega, Liz Democratic Yea
Pacheco, Blanca Democratic Yea
Papan, Diane Democratic Yea
Patel, Darshana R. Democratic Yea
Pellerin, Gail Democratic Yea
Petrie-Norris, Cottie Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Ramos, James C. Democratic Yea
Ransom, Rhodesia Democratic Yea
Rivas, Robert Democratic Yea
Rodriguez, Celeste Democratic Yea
Rodriguez, Michelle Democratic Yea
Rogers, Chris Democratic Yea
Rubio, Blanca E. Democratic Yea
Schiavo, Pilar Democratic Yea
Schultz, Nick Democratic Yea
Sharp-Collins, LaShae Democratic Yea
Solache, Jr., José Luis Democratic Yea
Soria, Esmeralda Democratic Yea
Stefani, Catherine Democratic Yea
Valencia, Avelino Democratic Yea
Ward, Christopher M. Democratic Yea
Wicks, Buffy Democratic Yea
Wilson, Lori D. Democratic Yea
Zbur, Rick Chavez Democratic Yea
Alanis, Juan Republican Yea
Castillo, Leticia Republican Yea
Chen, Phillip Republican Yea
Davies, Laurie Republican Yea
DeMaio, Carl Republican Yea
Dixon, Diane Republican Yea
Ellis, Stan Republican Yea
Flora, Heath Republican Yea
Gonzalez, Jeff Republican Yea
Hadwick, Heather Republican Yea
Hoover, Josh Republican Yea
Johnson, Natasha Republican Yea
Lackey, Tom Republican Not Voting
Macedo, Alexandra Republican Yea
Patterson, Joe Republican Yea
Sanchez, Kate Republican Yea
Ta, Tri Republican Yea
Tangipa, David J. Republican Yea
Wallis, Greg Republican Yea

Official roll call →

W/O REF. TO FILE

Passed 38 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Democratic 29001
Republican 9001
Total 38002
% of votes cast 95%0%0%5%
How each member voted (40)
Member Party Vote
Allen, Benjamin Democratic Yea
Archuleta, Bob Democratic Yea
Arreguín, Jesse Democratic Yea
Ashby, Angelique V. Democratic Yea
Becker, Josh Democratic Yea
Blakespear, Catherine S. Democratic Yea
Cabaldon, Christopher Democratic Yea
Caballero, Anna M. Democratic Yea
Cervantes, Sabrina Democratic Yea
Cortese, Dave Democratic Yea
Durazo, Maria Elena Democratic Yea
Gonzalez, Lena A. Democratic Yea
Grayson, Timothy S. Democratic Yea
Hurtado, Melissa Democratic Yea
Laird, John Democratic Yea
Limón, Monique Democratic Yea
McGuire, Mike Democratic Yea
McNerney, Jerry Democratic Yea
Menjivar, Caroline Democratic Yea
Padilla, Stephen C. Democratic Yea
Pérez, Sasha Renée Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Richardson, Laura Democratic Yea
Rubio, Susan Democratic Not Voting
Smallwood-Cuevas, Lola Democratic Yea
Stern, Henry I. Democratic Yea
Umberg, Thomas J. Democratic Yea
Wahab, Aisha Democratic Yea
Weber Pierson, M.D., Akilah Democratic Yea
Wiener, Scott D. Democratic Yea
Alvarado-Gil, Marie Republican Yea
Choi, Steven S. Republican Yea
Dahle, Megan Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Not Voting
Niello, Roger W. Republican Yea
Ochoa Bogh, Rosilicie Republican Yea
Seyarto, Kelly Republican Yea
Strickland, Tony Republican Yea
Valladares, Suzette Martinez Republican Yea

Official roll call →

Do pass.

Passed 15 Yea · 0 Nay
Party YeaNayPresentNot Voting
Democratic 11000
Republican 4000
Total 15000
% of votes cast 100%0%0%0%
How each member voted (15)
Member Party Vote
Arambula, Joaquin Democratic Yea
Calderon, Lisa Democratic Yea
Caloza, Jessica Democratic Yea
Elhawary, Sade Democratic Yea
Fong, Mike Democratic Yea
González, Mark Democratic Yea
Hart, Gregg Democratic Yea
Pacheco, Blanca Democratic Yea
Pellerin, Gail Democratic Yea
Solache, Jr., José Luis Democratic Yea
Wicks, Buffy Democratic Yea
Dixon, Diane Republican Yea
Gonzalez, Jeff Republican Yea
Ta, Tri Republican Yea
Tangipa, David J. Republican Yea

Official roll call →

Passed 13 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Democratic 11000
Republican 2002
Total 13002
% of votes cast 87%0%0%13%
How each member voted (15)
Member Party Vote
Bryan, Isaac G. Democratic Yea
Haney, Matt Democratic Yea
Irwin, Jacqui Democratic Yea
Lowenthal, Josh Democratic Yea
McKinnor, Tina Democratic Yea
Ortega, Liz Democratic Yea
Pellerin, Gail Democratic Yea
Petrie-Norris, Cottie Democratic Yea
Ward, Christopher M. Democratic Yea
Wicks, Buffy Democratic Yea
Wilson, Lori D. Democratic Yea
DeMaio, Carl Republican Not Voting
Dixon, Diane Republican Yea
Hoover, Josh Republican Not Voting
Lackey, Tom Republican Yea

Official roll call →

Passed 9 Yea · 0 Nay
Party YeaNayPresentNot Voting
Democratic 7000
Republican 2000
Total 9000
% of votes cast 100%0%0%0%
How each member voted (9)
Member Party Vote
Fong, Mike Democratic Yea
Krell, Maggy Democratic Yea
Rodriguez, Michelle Democratic Yea
Rubio, Blanca E. Democratic Yea
Schiavo, Pilar Democratic Yea
Soria, Esmeralda Democratic Yea
Valencia, Avelino Democratic Yea
Chen, Phillip Republican Yea
Dixon, Diane Republican Yea

Official roll call →

3rd Reading

Passed 38 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Republican 10000
Democratic 28002
Total 38002
% of votes cast 95%0%0%5%
How each member voted (40)
Member Party Vote
Allen, Benjamin Democratic Yea
Archuleta, Bob Democratic Yea
Arreguín, Jesse Democratic Yea
Ashby, Angelique V. Democratic Yea
Becker, Josh Democratic Yea
Blakespear, Catherine S. Democratic Yea
Cabaldon, Christopher Democratic Yea
Caballero, Anna M. Democratic Yea
Cervantes, Sabrina Democratic Yea
Cortese, Dave Democratic Yea
Durazo, Maria Elena Democratic Yea
Gonzalez, Lena A. Democratic Yea
Grayson, Timothy S. Democratic Yea
Hurtado, Melissa Democratic Not Voting
Laird, John Democratic Yea
Limón, Monique Democratic Yea
McGuire, Mike Democratic Yea
McNerney, Jerry Democratic Yea
Menjivar, Caroline Democratic Yea
Padilla, Stephen C. Democratic Yea
Pérez, Sasha Renée Democratic Yea
Reyes, Eloise Gómez Democratic Not Voting
Richardson, Laura Democratic Yea
Rubio, Susan Democratic Yea
Smallwood-Cuevas, Lola Democratic Yea
Stern, Henry I. Democratic Yea
Umberg, Thomas J. Democratic Yea
Wahab, Aisha Democratic Yea
Weber Pierson, M.D., Akilah Democratic Yea
Wiener, Scott D. Democratic Yea
Alvarado-Gil, Marie Republican Yea
Choi, Steven S. Republican Yea
Dahle, Megan Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Niello, Roger W. Republican Yea
Ochoa Bogh, Rosilicie Republican Yea
Seyarto, Kelly Republican Yea
Strickland, Tony Republican Yea
Valladares, Suzette Martinez Republican Yea

Official roll call →

Passed 13 Yea · 0 Nay
Party YeaNayPresentNot Voting
Democratic 11000
Republican 2000
Total 13000
% of votes cast 100%0%0%0%
How each member voted (13)
Member Party Vote
Allen, Benjamin Democratic Yea
Arreguín, Jesse Democratic Yea
Ashby, Angelique V. Democratic Yea
Caballero, Anna M. Democratic Yea
Durazo, Maria Elena Democratic Yea
Laird, John Democratic Yea
Stern, Henry I. Democratic Yea
Umberg, Thomas J. Democratic Yea
Wahab, Aisha Democratic Yea
Weber Pierson, M.D., Akilah Democratic Yea
Wiener, Scott D. Democratic Yea
Niello, Roger W. Republican Yea
Valladares, Suzette Martinez Republican Yea

Official roll call →

Passed 7 Yea · 0 Nay
Party YeaNayPresentNot Voting
Democratic 5000
Republican 2000
Total 7000
% of votes cast 100%0%0%0%
How each member voted (7)
Member Party Vote
Cervantes, Sabrina Democratic Yea
Grayson, Timothy S. Democratic Yea
Hurtado, Melissa Democratic Yea
Limón, Monique Democratic Yea
Richardson, Laura Democratic Yea
Niello, Roger W. Republican Yea
Strickland, Tony Republican Yea

Official roll call →

Subjects

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Frequently asked questions

What does SB 97 do?
(1) Existing law, the Digital Financial Assets Law, prohibits a person, on or after July 1, 2026, from engaging in digital financial asset business activity, or holding itself out as being able to engage in digital financial asset business activity, with, or on behalf of, a resident, unless any of certain criteria are met, including that the person is licensed with the Department of Financial Protection and Innovation, as prescribed, or the person submits an application on or before July 1, 2026, and is awaiting approval or denial of that application. This bill would revise the above-described latter criterion to specify that the person submits a completed application, as provided. The Digital Financial Assets Law authorizes the Commissioner of Financial Protection and Innovation to issue a conditional license to an applicant who holds or maintains a license to conduct virtual currency business activity in the State of New York, as specified, provided the license was issued or approved no later than January 1, 2023. This bill would revise the above-described authorization to require that the license be issued or approved no later than January 1, 2025. (2) The Digital Financial Assets Law defines "digital financial asset business activity" to mean any of specified activities, including, among others, exchanging, transferring, or storing a digital financial asset, as specified, or exchanging one or more digital representations of value used within one or more online games, game platforms, or family of games, as provided. This bill would remove exchanging one or more digital representations of value used within one or more online games, game platforms, or family of games from the definition of "digital financial business activity." The bill would specify that a "digital financial asset" does not include, among other things, a transaction in which a merchant grants digital representations of value that primarily relate to an affinity or rewards program, as provided, or a digital representation of value issued by or on behalf of a publisher and used primarily within online games or game platforms and that is not otherwise a digital financial asset. The Digital Financial Assets Law declares that its provisions do not apply to specified activity, including by a person who does not receive compensation for providing digital financial asset products or services or for conducting financial asset business activity or that is engaged in testing products or services with the person's own funds. This bill would specify that the above-described exclusion includes a person who merely retains the ability to terminate, suspend, or interrupt a digital financial transaction solely to prevent unauthorized or fraudulent activity and who is not compensated for that service. The Digital Financial Assets Law prohibits a covered person from exchanging, transferring, or storing a digital financial asset that is a stablecoin or engaging in digital financial asset administration of a stablecoin, as specified, unless certain conditions are met. However, existing law authorizes a covered person to exchange, transfer, or store a stablecoin or engage in digital financial asset administration of that stablecoin, as specified, if the stablecoin is approved by the commissioner and complies with certain requirements, restrictions, or prohibitions established by the commissioner. This bill would repeal the above-described provisions related to stablecoins. (3) The Digital Financial Assets Law requires a licensee to submit an annual report, as provided, containing specified information, including a description of any data security breach or cybersecurity event of the licensee. Existing law requires a licensee to file with the department, as applicable, a report of, among other things, a change in the licensee's business for the conduct of its digital financial asset business activity with, or on behalf of, a resident that meets one of specified criteria, including that the proposed change might raise safety and soundness or operational concerns. This bill would revise the above-described annual report to instead include a description of any material data security breach or cybersecurity event of the licensee. The bill would revise the specified criteria in the requirement to file the above-described report of a change in the licensee's business to instead include that the proposed change might raise material safety and soundness or operational concerns. Before engaging in digital financial asset business activity with a resident, the Digital Financial Assets Law requires a covered person, defined as a person required to obtain a license pursuant to that law, to disclose, as provided, certain information, including the resident's right to at least 14 days' prior notice of specified changes that have a material impact on digital financial asset business activity with the resident, or the policies applicable to the resident's account. Existing law requires a covered exchange, as provided, to certify on a form provided by the department that the covered exchange has taken specified actions, except for any digital financial asset approved for listing on or before January 1, 2023. In a transaction for or with a resident, existing law prohibits the covered exchange from interjecting a third party between the covered exchange and the best market for the digital financial asset in a manner inconsistent with specified requirements. This bill would prohibit the 14-day notice requirement from applying to changes in terms, conditions, or policies that are reasonably necessary to address a risk of loss to the resident or covered person, to the extent that the change does not relate to the fee schedule. The bill would instead exclude from the above-described certification requirement a digital financial asset approved for listing on or before January 1, 2025. The bill would require a covered person to provide and make available an up-to-date description of the order execution practices of the covered person, as specified. The bill would exempt a transaction in which a resident receives stablecoin, as defined, in exchange for legal tender or bank or credit union credit from the above-described prohibition against interjecting a third party. The Digital Financial Assets Law requires an applicant, as provided, to create, and during licensure, maintain in a record specified policies and procedures. Existing law requires these policies and procedures be disclosed separately from other disclosures made available to a resident, as specified, except for, among other things, an adopted information security program or an operational security program. This bill would instead exclude from the above-described requirement to disclose separately from other disclosures programs with information that is sensitive to potential security risks, as specified. This bill would declare that it is to take effect immediately as an urgency statute.
Who sponsors SB 97?
SB 97 is sponsored by Grayson, Timothy S. (Democratic).
What is the current status of SB 97?
This bill has been sent to the executive. Introduced January 23, 2025. It awaits signature.
Where can I track SB 97?
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