California legislation · 2025-2026 Regular Session
California AB1180: Department of Financial Protection and Innovation: state payments.
Status: Chaptered, September 27, 2026
What the bill says
An act to add and repeal Section 3802 of the Financial Code, relating to digital financial assets. digital financial assets Department of Financial Protection and Innovation: state payments. The Digital Financial Assets Law (DFAL) generally regulates digital financial asset business activity, including by prohibiting a covered person from taking certain actions with digital financial assets if that asset is a stablecoin, as defined and prescribed. The DFAL requires, among other charges, an applicant for a license to include a nonrefundable fee with an application, as specified…
From the chaptered text, September 27, 2026:
An act to add and repeal Section 3802 of the Financial Code, relating to digital financial assets. digital financial assets Department of Financial Protection and Innovation: state payments. The Digital Financial Assets Law (DFAL) generally regulates digital financial asset business activity, including by prohibiting a covered person from taking certain actions with digital financial assets if that asset is a stablecoin, as defined and prescribed. The DFAL requires, among other charges, an applicant for a license to include a nonrefundable fee with an application, as specified. This bill would authorize the Department of Financial Protection and Innovation to adopt regulations to allow specified payments required under the DFAL to be made with stablecoins, as specified. This bill would become operative on July 1, 2027, and sunset its provisions on January 1, 2032. MAJORITY NO YES NO NO NO NO NO NO NO NO The people of the State of California do enact as follows: SECTION 1. Section 3802 is added to the Financial Code , to read: 3802. (a) (1) The department may adopt regulations to allow a payment required under this division to be made with a stablecoin that is issued by a licensee of this division and that may be redeemed directly from the issuer. (2) If the department adopts regulations pursuant to paragraph (1), the regulations shall …