The California Legislature advances the legislative process of the Bitcoin Rights Act

According to Bitcoin.com, the California Legislature recently submitted the Bitcoin Rights Act, numbered AB-1052, aimed at providing legal protection for the autonomous custody of digital assets. The bill was proposed by Juan Carrillo Valencia, Chairman of the Banking and Finance Committee of the California Legislature, and officially announced on social media platform X on March 29th by the non-profit organization Satoshi Action Fund. The AB-1052 bill includes multiple provisions to protect digital asset users: explicitly recognizing the autonomous custody rights of Bitcoin and other digital assets; Prohibit government agencies from imposing taxes or restrictions solely on assets used for payment purposes; Establish a legal framework for the handling of unclaimed digital assets, ensuring that these assets are held by licensed custodians. In addition, the bill also seeks to amend the 1974 Political Reform Act to prohibit public officials from issuing, sponsoring, or promoting any digital assets, securities, or commodities in order to reduce the influence of political factors on emerging financial technologies. Supporters believe that the bill may become a legislative template for other jurisdictions. They stated that California's passage of the AB-1052 bill may trigger a nationwide regulatory framework discussion and prompt other states to take similar measures.