Crypto news

California’s Bold Move: Bitcoin Payments for Government Fees by 2026

BBG News

Ah, California, the land of endless possibilities, golden beaches, and, now, apparently, Bitcoin. The State Assembly, in a rather surprising display of unanimous agreement (68-0), has passed Assembly Bill 1180, a bill that could soon allow Californians to pay their government fees with cryptocurrencies. Yes, you read that correctly. Cryptocurrencies, like Bitcoin and Ethereum, could one day be accepted for services that range from your parking tickets to your state tax obligations. If, and this is a big “if,” the Senate approves it, and Governor Gavin Newsom puts his signature on it, California will undoubtedly ascend to the pedestal of one of the most crypto-friendly states in the land of the free.

JUST IN: California Assembly passes bill to allow the state to receive payments in Bitcoin and digital currencies.

It passed 68-0, and now heads to the Senate.

— Bitcoin Laws (@Bitcoin_Laws) June 3, 2025

Crypto Payments: A Dream Coming Closer?

But let’s not get ahead of ourselves, for we must acknowledge the weight of the bureaucracy. The bill, if it sails through the Senate and is signed by Newsom, will enable the California Department of Financial Protection and Innovation (DFPI) to, perhaps rather ambitiously, draft the necessary rules to allow state agencies to accept crypto payments. These payments will be governed under the Digital Financial Assets Law (DFAL). The new law, should it come to fruition, will come into effect on July 1, 2026, and will feature a pilot program running until January 2031, which, let’s be honest, sounds more like a space exploration mission than a government initiative.

Ah, yes, the DFPI, the guardian of financial services and crypto businesses in the state, will have the task of keeping an eye on these digital transactions. The agency will report on regulatory issues, technical challenges, and the like by 2028. But fear not! California is not alone in this crypto crusade. Other states like Florida, Colorado, and Louisiana are also wading into the blockchain waters. Could this be the beginning of a statewide—nay, nationwide—wave of crypto adoption? Only time will tell. Or, perhaps, we’ll be laughing about it all in 2030.

Oh, and let us not forget that California, ever the overachiever, is the largest investor in MicroStrategy, the company with an undeniably large Bitcoin stash. Public pension funds have a cool $276 million stake in the company. It seems the state’s confidence in digital assets is stronger than ever—just don’t ask them to explain it. After all, what’s more trustworthy than a currency that can drop in value at the drop of a hat?

Bitcoin Rights: A Glimmer of Hope?

And, as if that weren’t enough, California is also pushing for the “Bitcoin rights” bill, AB 1052, which, against all odds, passed its first committee with full, unwavering support. This bill, in its eloquent simplicity, seeks to ensure that public agencies will not be able to restrict digital assets just because they can be used as payments. A delightful touch, wouldn’t you say? By guaranteeing crypto self-custody rights, California may soon find itself at the forefront of the digital revolution.

Oh, but wait, there’s more! There are already 117 merchants in the state accepting Bitcoin. So, with the wind at its back, California could soon find itself on a path to becoming the first state to truly embrace a blockchain-powered economy. But let us not get carried away—let’s just say the next few years will be anything but boring, as long as you don’t mind the occasional plunge in Bitcoin’s value. 🙄

Read More

2025-06-04 10:50

Previous post Love Island’s Olivia Hawkins ‘dating hunky boxer and Netflix star’ – weeks after kissing Celebs Go Dating co-star
Next post Ethereum Is Re-Programming Itself — And It’s About Time!