California’s Digital Asset License Deadline Threatens Disruption
The licensing and remaining compliance requirements in California’s digital asset licensing regime may bring hundreds of exchanges, custodians, blockchain-based payment firms, and stablecoin issuers—collectively known as digital asset businesses—under the supervision of the state’s Department of Financial Protection and Innovation for the first time.
Despite industry focusing on federal legislative and regulatory developments, California’s Digital Financial Assets Law will be significant for many businesses that form the backbone of the US blockchain industry.
Those covered by DFAL must submit a complete license application by July 1 to avoid disruption to their digital asset business operations in the country’s largest market.
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