First Mover Asia: Bitcoin Struggles Following Inflation Report; California Crypto Bill Is an Overstep, Say Legal Experts

The bill would prohibit California-licensed entities from dealing with stablecoins, unless that stablecoin is fully-backed by securities and issued by a bank or licensed by the California Department of Financial Protection and Innovation. Brands The bill would prohibit California-licensed entities from dealing with stablecoins, unless that stablecoin is fully-backed by securities and issued by a bank or licensed by the California Department of Financial Protection and Innovation.