California Assemblymember Introduces "Bitcoin Bill of Rights," Will Provide Digital Asset-Related Rights Protection

March 31st. As per Bitcoin.com, the California Assembly has officially put forward AB-1052, which is the "Bitcoin Bill of Rights" bill. This bill, proposed by the Chair of the California Banking and Finance Committee, Assemblymember Juan Carrillo Valencia, is intended to offer legal safeguards to digital asset users. It clarifies the self-custody rights of Bitcoin and other digital assets and prohibits public agencies from imposing taxes or restrictions when these assets are used for payment. Furthermore, the bill sets up a legal framework for handling "unclaimed digital assets" to ensure that such assets are properly held by licensed custodians, thereby avoiding uncertainties in estate administration. The bill suggests amending the "Political Reform Act of 1974" to prohibit public officials from issuing, sponsoring, or promoting any digital asset, security, or commodity. This is to prevent political influences from impeding the development of emerging financial technologies. The Satoshi Action Fund stated that once the bill is passed, it will provide digital asset-related rights protection to nearly 40 million California residents and may serve as a model for other regions to enact similar legislation.