Digital financial assets: stablecoins.

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. Enacted

Summary

The bill updates the state’s Digital Financial Assets Law, adding new definitions and tighter licensing rules for firms that handle stablecoins and other digital assets. It requires detailed annual reports, specific consumer disclosures, and a formal approval process for stablecoin issuers, while giving the Department of Financial Protection and Innovation authority to grant exemptions or suspend licenses for non‑compliance. The changes aim to increase transparency, safety and regulatory oversight of digital‑asset activities in California.

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

Vote

Read third time. Urgency clause adopted. Passed. (Ayes 75. Noes 0. Page 5913.) Ordered to the Senate. · Jun 29, 2026

Hearings

• Appropriations Committee Hearing
  Appropriations · Aug 20, 2025
• Privacy and Consumer Protection Committee Hearing
  Privacy and Consumer Protection · Jul 8, 2025
• Banking and Finance Committee Hearing
  Banking and Finance · Jul 7, 2025
• Judiciary Committee Hearing
  Judiciary · Apr 8, 2025
• Banking and Financial Institutions Committee Hearing
  Banking and Financial Institutions · Apr 2, 2025

History

1. Aug 21, 2025Read second time. Ordered to third reading.
2. Aug 21, 2025Ordered to inactive file on request of Assembly Member Aguiar-Curry.
3. Aug 20, 2025From committee: Do pass. (Ayes 15. Noes 0.) (August 20).
4. Jul 9, 2025From committee: Do pass and re-refer to Com. on APPR. (Ayes 13. Noes 0.) (July 8). Re-referred to Com. on APPR.
5. Jul 8, 2025From 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.
6. Jun 27, 2025Assembly Rule 56 suspended.
7. Jun 17, 2025June 23 hearing postponed by committee.
8. Jun 9, 2025Referred to Coms. on B. & F. and P. & C.P.
9. Jun 4, 2025In Assembly. Read first time. Held at Desk.
10. Jun 3, 2025Read third time. Passed. (Ayes 38. Noes 0. Page 1438.) Ordered to the Assembly.
11. Jun 2, 2025Read second time. Ordered to third reading.
12. May 29, 2025Read third time and amended.

The 12 most recent of 29 recorded actions.

Sponsors

• Tim Grayson (D) · sponsor
• Grayson

Bill text

Opens the legislature’s own copy.

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