PANews reported on March 31 that, according to Bitcoin.com, the California Assembly recently formally submitted Bill AB-1052, the "Bitcoin Rights Act", aimed at providing legal protection for digital asset self-custody. The bill was proposed by Juan Carrillo Valencia, chairman of the California Assembly's Banking and Finance Committee, and was officially announced on March 29 by the non-profit organization "Satoshi Action Fund" on the social media platform X.
The AB-1052 bill contains multiple provisions to protect digital asset users: clearly acknowledging the self-custody rights of Bitcoin and other digital assets; prohibiting government agencies from imposing taxes or restrictions solely based on asset usage for payment; establishing a legal framework for handling unclaimed digital assets, ensuring these assets are held by licensed custodians. Additionally, the bill seeks to amend the 1974 Political Reform Act, prohibiting public officials from issuing, sponsoring, or promoting any digital assets, securities, or commodities to reduce political factors' influence on emerging financial technologies. Supporters believe the bill could become a legislative template for other jurisdictions. They suggest that California's passage of AB-1052 might trigger a nationwide regulatory framework discussion and encourage other states to take similar measures.
