Digital financial assets: stablecoins.
- Exempts in-game digital currencies from digital financial asset regulations to reduce gaming industry burden.
- Expands oversight of stablecoins by requiring issuers to meet new security and asset-backing requirements.
- Grants state regulators new powers to approve and revoke stablecoins based on consumer protection standards.
- Requires public disclosure of approved stablecoins on the state financial regulator's website.
Senator Grayson's digital financial assets legislation refines California's regulatory approach to stablecoins while exempting in-game digital assets from state oversight. The bill removes digital representations of value used within online games and gaming platforms from the definition of regulated digital financial asset business activities, allowing game developers to operate without meeting digital asset licensing requirements.
The legislation expands the criteria that the Commissioner of Financial Protection and Innovation must evaluate when approving stablecoins for use in California. These new factors include examination of holder redemption rights, quality of backing assets, collateralization requirements, and technical security measures such as code audits and automated settlement mechanisms. The Commissioner retains authority to impose licensing requirements on stablecoin issuers and may revoke approvals if market conditions change or if issuers engage in misleading marketing practices.
The Department of Financial Protection and Innovation must publicly disclose approved stablecoins on its website. The changes take effect alongside California's broader digital financial assets regulatory framework, which begins implementation in July 2026.
 Anna CaballeroD Senator | Committee Member |  Not Contacted | |
 Tim GraysonD Senator | Bill Author | Not Contacted | |
 Megan DahleR Senator | Committee Member | Not Contacted | |
 Kelly SeyartoR Senator | Committee Member | Not Contacted | |
 Aisha WahabD Senator | Committee Member | Not Contacted |
Email the authors or create an email template to send to all relevant legislators.
Introduced By
Latest Voting History
| Ayes | Noes | NVR | Total | Result |
|---|---|---|---|---|
| 13 | 0 | 0 | 13 | PASS |
- Exempts in-game digital currencies from digital financial asset regulations to reduce gaming industry burden.
- Expands oversight of stablecoins by requiring issuers to meet new security and asset-backing requirements.
- Grants state regulators new powers to approve and revoke stablecoins based on consumer protection standards.
- Requires public disclosure of approved stablecoins on the state financial regulator's website.
Email the authors or create an email template to send to all relevant legislators.
Introduced By
Senator Grayson's digital financial assets legislation refines California's regulatory approach to stablecoins while exempting in-game digital assets from state oversight. The bill removes digital representations of value used within online games and gaming platforms from the definition of regulated digital financial asset business activities, allowing game developers to operate without meeting digital asset licensing requirements.
The legislation expands the criteria that the Commissioner of Financial Protection and Innovation must evaluate when approving stablecoins for use in California. These new factors include examination of holder redemption rights, quality of backing assets, collateralization requirements, and technical security measures such as code audits and automated settlement mechanisms. The Commissioner retains authority to impose licensing requirements on stablecoin issuers and may revoke approvals if market conditions change or if issuers engage in misleading marketing practices.
The Department of Financial Protection and Innovation must publicly disclose approved stablecoins on its website. The changes take effect alongside California's broader digital financial assets regulatory framework, which begins implementation in July 2026.
Latest Voting History
| Ayes | Noes | NVR | Total | Result |
|---|---|---|---|---|
| 13 | 0 | 0 | 13 | PASS |
Anna CaballeroD Senator | Committee Member | Not Contacted | |
Tim GraysonD Senator | Bill Author | Not Contacted | |
Megan DahleR Senator | Committee Member | Not Contacted | |
Kelly SeyartoR Senator | Committee Member | Not Contacted | |
Aisha WahabD Senator | Committee Member | Not Contacted |