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.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

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.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Bitcoin Rights Act on the Agenda in California! appeared first on Coin Engineer.

X’s Vision for a Seamless Financial Experience

Users were about to use the platform to pay money, buy things and even earn interest on their account balances, the head of payments of the company, Christopher Stanley, said. Stanley stressed that the forthcoming payment functionalities would be more than just peer-to-peer transactions, picturing an app wallet not unlike the ones used by such popular services as Venmo.

“That is Venmo at first. Then you start to earn interest, buy things, and eventually be able to use it in stores (think Apple Pay),” described Stanley, describing the bold trajectory of the platform.

This announcement comes after X recently acquired a money transmitter license in Tennessee on April 9, which brings it to a total of 25 states within the US. Administrative challenges continue and this time Elon Musk, the executive chairman of X, who had earlier announced the plans to launch a new payment in-app by mid of 2024, did it to show this company’s resilience. “The end goal is if you ever have any reason to remove money from our system, then we have failed,” Stanley stressed, emphasizing the platform’s holistic financial ecosystem.

Elon Musk’s Ambivalence Towards Crypto Integration

Although initially X’s payment system will concentrate on the traditional fiat currencies but there is a lot of wild speculation about possible crypto integration. Musk, despite his historical preference for cryptocurrencies, was reflected by huge bitcoin holdings of Tesla, is skeptical about the role of crypto in X. Talking to ARK Invest CEO Cathie Wood, he said he doesn’t really think about cryptocurrencies much and their implications.

Whereas X seeks to redefine digital transactions, the level of integration between it and cryptocurrencies is still an open question. But focused on transforming financial interactions, X is ready to redefine the meeting point of social media and finance.

The post X Unveils Ambitious Plans for In-App Payments, Eyes Financial Ecosystem appeared first on Coin Engineer.

The post Mercari Plans to Accept Bitcoin Payments! appeared first on Coin Engineer.