California AB1180 allows the Department of Financial Protection and Innovation to accept stablecoin payments for certain state payments.

California AB1180 permits the Department of Financial Protection and Innovation to adopt regulations allowing payments to be made with stablecoins issued by licensees. These payments can be made to the department by applicants or licensees, but not for enforcement measures. The regulations cannot allow payments if they conflict with certain government code requirements. The department may consult with the Treasurer and the Controller when adopting these regulations. The cost of implementing these regulations will be recovered as per existing law.

California AB1180 allows the Department of Financial Protection and Innovation to accept stablecoin payments for certain state payments.

California AB1180 permits the Department of Financial Protection and Innovation to adopt regulations allowing payments to be made with stablecoins issued by licensees. These payments can be made to the department by applicants or licensees, but not for enforcement measures. The regulations cannot allow payments if they conflict with certain government code requirements. The department may consult with the Treasurer and the Controller when adopting these regulations. The cost of implementing these regulations will be recovered as per existing law.