California’s Assembly has initiated legislative action on cryptocurrency governance with the filing of AB-1052, referred to as the “Bitcoin Rights” bill. Introduced by Assemblymember Juan Carrillo Valencia, who presides over the Banking and Finance Committee, the measure targets legal recognition for digital asset self-custody. Public confirmation of the bill’s introduction came on March 29 through a statement posted by the nonprofit Satoshi Action Fund on the social media platform X.

We are proud to officially announce that ‘Bitcoin Rights’ has been introduced in the California Assembly by the Chair of Banking and Finance – Assemblyman Valencia. Once passed, nearly 40 million Americans will have their right to self-custody protected!

“The bill also creates legal frameworks for how to manage ‘unclaimed property’ for digital assets which we fully endorse,” the group noted. Satoshi Action Fund is a nonprofit advocacy organization focused on advancing pro-bitcoin and digital asset legislation at the state and federal levels. The group collaborates with lawmakers, regulators, and industry leaders to promote financial freedom, property rights, and innovation through model policy initiatives.

The bill, AB-1052, outlines several provisions intended to strengthen protections for digital asset users. It explicitly affirms the right to self-custody bitcoin and other digital assets, while barring public agencies from imposing taxes or restrictions solely based on asset use in payments. A separate section of the bill establishes a legal process for handling unclaimed digital property, ensuring such assets are secured by licensed custodians instead of being left in administrative uncertainty.

Additionally, the proposed legislation seeks to modify the Political Reform Act of 1974 to prohibit public officials from issuing, sponsoring, or promoting any digital asset, security, or commodity—an effort to separate political influence from emerging financial technologies.

Supporters of the bill say it sets a crucial precedent in defending property rights in the digital economy. Dennis Porter, CEO and co-founder of Satoshi Action Fund, underscored the importance of the bill’s passage, stating:

This is an important step forward for bitcoin and digital asset rights. We must ensure that innovative technologies remain accessible to individuals.

Advocates suggest the bill could serve as a legislative template for other jurisdictions. They assert that California’s adoption of AB-1052 may catalyze national conversations around regulatory infrastructure and prompt other states to pursue comparable measures.

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