Digital Financial Asset Banking Act.

Legislative status

1. Introduced
2. In Committee
3. Reported by Committee
4. Floor Vote Scheduled
5. Passed One Chamber
6. Passed Both Chambers
7. Sent to Executive
8. Signed into Law

Summary

The Digital Financial Asset Banking Act adds new rules to the Corporations and Financial Codes that apply to any bank or credit union offering digital‑asset services. It forces these institutions to use written agreements, disclose insurance status, keep full reserves, undergo annual audits, and maintain AML and cybersecurity programs. The goal is to protect consumers while allowing regulated financial institutions to handle digital assets safely.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Vote

Joint Rule 62(a), file notice suspended. (Ayes 54. Noes 16. Page 4716.) · Apr 20, 2026

Hearings

• Judiciary Committee Hearing
  Judiciary · Jun 30, 2026
• Banking and Finance Committee Hearing
  Banking and Finance · Jun 8, 2026
• Appropriations Committee Hearing
  Appropriations · May 14, 2026
• Appropriations Committee Hearing
  Appropriations · May 6, 2026
• Privacy and Consumer Protection Committee Hearing
  Privacy and Consumer Protection · Apr 21, 2026

History

1. Jun 4, 2026Re-referred to Com. on B. & F.
2. Jun 3, 2026From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.
3. May 28, 2026In committee: Hearing postponed by committee.
4. May 26, 2026Re-referred to Com. on B. & F. pursuant to Assembly Rule 77.2.
5. May 26, 2026Joint Rule 62(a), file notice suspended.
6. May 22, 2026Read third time and amended. Ordered to third reading. (Page 5273.)
7. May 18, 2026Read second time. Ordered to third reading.
8. May 14, 2026From committee: Do pass. (Ayes 15. Noes 0.) (May 14).
9. May 6, 2026In committee: Set, first hearing. Referred to APPR. suspense file.
10. Apr 22, 2026From committee: Do pass and re-refer to Com. on APPR. (Ayes 15. Noes 0.) (April 21). Re-referred to Com. on APPR.
11. Apr 21, 2026From committee: Do pass and re-refer to Com. on P. & C.P. (Ayes 9. Noes 0.) (April 20). Re-referred to Com. on P. & C.P.
12. Apr 20, 2026Joint Rule 62(a), file notice suspended. (Ayes 54. Noes 16. Page 4716.)

The 12 most recent of 19 recorded actions.

Sponsors

• Avelino Valencia (D) · sponsor
• Valencia

Bill text

Opens the legislature’s own copy.

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