California SB97 regulates digital financial assets, including stablecoins, requiring licensing and compliance with antifraud and anti-money.

California SB97 establishes regulations for digital financial assets, including stablecoins, within the Financial Code. It mandates licensing for entities engaging in digital financial asset business activity, except for certain exemptions. The bill requires licensees to implement antifraud and anti-money laundering policies, including risk assessments and procedures for detecting and preventing fraud and money laundering. It also outlines requirements for disclosures to residents, including transaction confirmations and information about the digital financial asset's value and fees.

California SB97 regulates digital financial assets, including stablecoins, requiring licensing and compliance with antifraud and anti-money.

California SB97 establishes regulations for digital financial assets, including stablecoins, within the Financial Code. It mandates licensing for entities engaging in digital financial asset business activity, except for certain exemptions. The bill requires licensees to implement antifraud and anti-money laundering policies, including risk assessments and procedures for detecting and preventing fraud and money laundering. It also outlines requirements for disclosures to residents, including transaction confirmations and information about the digital financial asset's value and fees.