TechFlow news, March 31 — According to Bitcoin.com News, the California State Assembly has officially introduced AB-1052, known as the "Bitcoin Rights" bill. Proposed by Assemblymember Juan Carrillo Valencia, Chair of the Banking and Finance Committee, the legislation aims to provide legal protections for digital asset users, including clarifying rights to self-custody Bitcoin and other digital assets, and prohibiting public agencies from taxing or imposing restrictions on assets used for payments.
In addition, the bill establishes a legal framework for managing "unclaimed digital assets," ensuring these assets are securely held by licensed custodians to avoid administrative uncertainties. Notably, the bill proposes amending the 1974 Political Reform Act to prohibit public officials from issuing, sponsoring, or promoting any digital asset, security, or commodity, in order to prevent political influence from interfering with the development of emerging financial technologies.
The Satoshi Action Fund stated that if passed, the bill would provide digital asset rights protections for nearly 40 million California residents and could serve as a model for similar legislation in other jurisdictions.
