Satoshi Action Fund CEO Dennis Porter said, “California often sets the national blueprint for policy, and if Bitcoin Rights passes here, it can pass anywhere.” According to Porter, this legislation will grant nearly 39.4 million residents the right to self-custody their digital assets.

Key Regulations and Restrictions

The bill recognizes digital assets as a valid form of payment in private transactions, prohibiting public entities from imposing additional taxes or restrictions based on their use. Additionally, the bill expands the 1974 Political Reform Act, preventing public officials from engaging in conflict-of-interest transactions involving digital assets.

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The bill is currently in the “desk process” and awaiting its first reading.

Bitcoin’s Presence in California and Other Regulations

According to BTC Maps data, over 99 businesses in California currently accept Bitcoin payments. Ripple Labs, Solana Labs, and Kraken are among the major crypto firms based in the state.

Additionally, a stablecoin regulation bill was introduced on February 2, 2025, aiming to clarify stablecoin collateral requirements, liquidation processes, and security audits.

Across the United States, 95 Bitcoin-related bills have been introduced at the state level. On March 6, the Texas Senate passed a Bitcoin strategic reserve bill in a 25-5 vote. Kentucky Governor Andy Beshear signed the Bitcoin Rights Act into law on March 24.

Earlier this month, U.S. President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve and Digital Asset Stockpile, utilizing cryptocurrency confiscated in government criminal cases.

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