Consumer Finance Monitor Podcast Episode: California Consumer Finance Law - Hot Topics and Recent Developments
Crypto and Beyond: California DFPI Opinions on Money Transmission and the Money Transmission Act - The Crypto Exchange Podcast
CA DFPI Request for Comment on Cryptocurrency-Related Financial Products and Services - The Consumer Finance Podcast
The California Department of Financial Protection & Innovation has created an online "Crypto Scam Tracker" that allows the public to by search company name, scam type, or keywords. Scams reported on the Tracker are based...more
On October 28, the California DFPI revoked a cryptocurrency lender’s California Licensing Law (CFL) license based on alleged violations, including improper practices related to digital asset collateral loans, including...more
On June 5, the California DFPI issued two desist and refrain orders against securities firms for allegedly offering unqualified securities under California’s Corporate Securities Law (CSL). The first order was against a...more
In October, I reported on the Governor's signing of AB 39 which creates the Digital Financial Assets Law. On or after July 1, 2025, the DFAL will prohibit a person from engaging in digital financial asset business activity...more
DFPI recently published a report on consumer crypto-related complaints collected through its new online complaint portal. According to the third-quarter 2023 CSO report, some of the most common complaints include...more
On November 20, DFPI announced it is seeking public comment before it begins its formal rulemaking process on its Digital Financial Assets Law (DFAL), which was enacted on October 13. ...more
On October 13, California Governor Gavin Newsom (D) signed Assembly Bill 39 (Digital Financial Assets Law). This new law broadly empowers the California Department of Financial Protection and Innovation (DFPI) to govern...more
Licensees, exchanges, and other market participants should prepare to comply with the listing, disclosure, capital, and other requirements that the new law imposes. On October 13, 2023, California Governor Gavin Newsom...more
A year ago, Governor Newsom vetoed a bill, AB 2269, which would have established a Digital Financial Assets Law. At the time, the Governor claimed that it was "premature to lock a licensing structure in statute". What a...more
On March 8, Silvergate Capital, a leader in crypto lending, announced it was winding down its operations. FTX was one of Silvergate Capital’s biggest clients. The California-based bank is chartered under the supervision of...more
Relatively few English words both begin and end with the letter "k". Kiosk is one. The word kiosk can be traced to the Persian word, kūsht, which refers to a palace or villa. In Turkish, the word became köşk. In France, a...more
New cryptocurrency legislation awaits California Governor Gavin Newsom’s signature after passing the California Assembly on August 30, 2022. If signed into law, California’s Digital Financial Assets Law would create sweeping...more
Yesterday's post concerned a bill pending in the California legislature that would impose a licensing requirement on persons engaging in "digital financial asset business activity", or holding itself out as being able to...more
In accordance with Governor Gavin Newsom's executive order, California's Department of Financial Protection & Innovation is soliciting coments concerning crypto asset related financial products. The DFPI's invitation for...more