California Blockchain Update
In this Q1 update from the California Blockchain Advocacy Coalition, Executive Director Joe Ciccolo outlines key legislative developments impacting crypto and blockchain policy in California.`
Joe Ciccolo, Executive Director - California Blockchain Advocacy Coalition
5/2/20252 min read
The first quarter of 2025 has been a high-engagement period for the California Blockchain Advocacy Coalition. As the legislative session gains momentum, we’ve been working directly with lawmakers and key stakeholders to shape policies that protect innovation and promote long-term clarity for the blockchain and crypto industries in California.
What we’re tracking:
AB 1029 (Valencia) - Support: This bill would require public officials to disclose crypto holdings just like real estate, stocks, and bonds. We support the transparency it brings to digital assets and its acknowledgment of their increasing relevance in financial disclosures.
SB 505 (Richardson): Initially aimed at consumer reimbursement for fraud victims, this bill raised concerns for unintentionally targeting crypto wallets. CBAC successfully engaged the author to hold the bill this year. It’s paused, but we’ll continue working toward a better framework.
AB 909 (Schiavo): This elder fraud reimbursement bill is focused on banks but mirrors UK policy shifts that may have ripple effects. We’re monitoring it closely for any potential expansion into the crypto space.
SB 822 (Becker): A positive step forward—this bill adds virtual currency to California’s unclaimed property law, aligning us with other states. It offers clarity on how service providers handle lost or abandoned assets.
AB 222 (Bauer-Kahan) - Oppose: We’ve joined a coalition pushing back on this bill’s broad definition of “data centers,” which risks pulling in miners, staking providers, and Web3 infrastructure platforms. We're concerned about unintended consequences and cumbersome and impractical compliance burdens.
Other key moments:
We attended the Senate Banking Committee hearing on consumer fraud, where crypto was frequently mentioned—even though it wasn’t the focus.
We participated in the March 20 stakeholder session on SB 97, the Digital Financial Assets Law (DFAL) clean-up bill. Several of our member-informed recommendations were adopted. The bill heads to committee April 2. (DFAL is California’s crypto licensing and oversight regime.)
Save the Date:
CBAC’s 2025 Lobby Day is set for May 14 at the State Capitol in Sacramento. Join us for direct advocacy with legislators on the policies shaping California’s digital asset future.