California Assemblymember Introduces "Bitcoin Bill of Rights," Will Provide Digital Asset-Related Rights Protection

BlockBeats News, March 31st. According to Bitcoin.com, the California Assembly has officially introduced AB-1052, the "Bitcoin Bill of Rights" bill. The bill, proposed by California Banking and Finance Committee Chair, Assemblymember Juan Carrillo Valencia, aims to provide legal protection for digital asset users, including clarifying the self-custody rights of Bitcoin and other digital assets, and prohibiting public agencies from taxing or imposing restrictions when assets are used for payment. Additionally, the bill establishes a legal framework for managing "unclaimed digital assets," ensuring that such assets are properly held by licensed custodians to avoid uncertainty in estate administration.

The bill proposes to amend the "Political Reform Act of 1974," prohibiting public officials from issuing, sponsoring, or promoting any digital asset, security, or commodity to prevent political influences from hindering the development of emerging financial technologies. The Satoshi Action Fund stated that once passed, the bill will provide digital asset-related rights protection to nearly 40 million California residents and may serve as a blueprint for other regions to enact similar legislation.