republic-os/legislation/us/states/ca/20232024/ab-1934.md

---
type: "Bill"
title: "Digital financial asset businesses."
description: "Existing law, the Digital Financial Assets Law, prohibits, on or after July 1, 2025, a person from engaging in digital financial asset business activity, or holding itself out as being able to engage in digital financial asset business activity, with, or on behalf of, a resident, unless any of certain criteria are met, including that the person is licensed with the Department of Financial Protection and Innovation, as prescribed, or the person submits an application on or before July 1, 2025, and is awaiting approval or denial of that application. Existing law defines \"digital financial asset\" for these purposes to mean a digital representation of value that is used as a medium of exchange, unit of account, or store of value, and that is not legal tender, whether or not denominated in legal tender, except as specified. Existing law also defines \"covered person\" to mean a person required to obtain a license under these provisions."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20232024"
identifier: "AB 1934"
citation: "California AB 1934 (20232024)"
classification: ["bill"]
subjects: ["Digital financial asset businesses"]
status: "enacted"
primary_sponsors: ["Grayson"]
version_count: 5
action_count: 20
vote_count: 7
first_action: "2024-01-25"
last_action: "2024-09-29"
source: "openstates"
source_identifier: "ocd-bill/d6f13e16-4f4e-4e00-93ec-8c8d192566ba"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202320240AB1934"
source_hash: "d1cdb7b552b662e8baa9ab174196edc0f53fb8bf55674dcefaa0188aa76893d5"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ca"]
---

# California AB 1934 (20232024) — Digital financial asset businesses.

Existing law, the Digital Financial Assets Law, prohibits, on or after July 1, 2025, a person from engaging in digital financial asset business activity, or holding itself out as being able to engage in digital financial asset business activity, with, or on behalf of, a resident, unless any of certain criteria are met, including that the person is licensed with the Department of Financial Protection and Innovation, as prescribed, or the person submits an application on or before July 1, 2025, and is awaiting approval or denial of that application. Existing law defines "digital financial asset" for these purposes to mean a digital representation of value that is used as a medium of exchange, unit of account, or store of value, and that is not legal tender, whether or not denominated in legal tender, except as specified. Existing law also defines "covered person" to mean a person required to obtain a license under these provisions.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **01/25/24 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=202320240AB1934&version=20230AB193499INT)
2. **05/23/24 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=202320240AB1934&version=20230AB193498AMD)
3. **09/29/24 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=202320240AB1934&version=20230AB193496CHP)
4. **AB1934** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202320240AB1934)
5. **08/19/24 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=202320240AB1934&version=20230AB193497ENR)

## Votes

- AB 1934 Grayson Concurrence in Senate Amendments — **75–0** (pass) · lower
- AB 1934 Grayson Consent Calendar Second Day — **72–0** (pass) · lower
- Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar — **11–0** (pass) · upper
- Do pass. To Consent Calendar. — **14–0** (pass) · lower
- Consent Calendar 2nd — **38–0** (pass) · upper
- Do pass and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar — **8–0** (pass) · lower
- Do pass, but first be re-referred to the Committee on [Judiciary] — **6–0** (pass) · upper

## Sponsors

- Grayson — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2024-01-25** Read first time. To print. `reading-1`
- **2024-01-26** From printer. May be heard in committee February 25.
- **2024-02-05** Referred to Com. on B. & F. `referral-committee`
- **2024-04-02** From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 8. Noes 0.) (April 1). Re-referred to Com. on APPR. `committee-passage, committee-passage-favorable, referral-committee`
- **2024-04-10** From committee: Do pass. To Consent Calendar. (Ayes 14. Noes 0.) (April 10). `committee-passage, committee-passage-favorable`
- **2024-04-11** Read second time. Ordered to Consent Calendar. `reading-1, reading-2`
- **2024-04-18** Read third time. Passed. Ordered to the Senate. (Ayes 72. Noes 0.) `passage, reading-1, reading-3`
- **2024-04-18** In Senate. Read first time. To Com. on RLS. for assignment. `reading-1`
- **2024-05-01** Referred to Coms. on B. & F.I. and JUD. `referral-committee`
- **2024-05-23** From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on B. & F.I. `amendment-introduction, amendment-passage, reading-1, reading-2, referral-committee`
- **2024-06-20** From committee: Do pass and re-refer to Com. on JUD. (Ayes 6. Noes 0.) (June 19). Re-referred to Com. on JUD. `committee-passage, committee-passage-favorable, referral-committee`
- **2024-07-03** From committee: Do pass and re-refer to Com. on APPR with recommendation: To Consent Calendar. (Ayes 11. Noes 0.) (July 2). Re-referred to Com. on APPR. `committee-passage, committee-passage-favorable, referral-committee`
- **2024-08-05** From committee: Be ordered to second reading file pursuant to Senate Rule 28.8 and ordered to Consent Calendar. `committee-passage, reading-2`
- **2024-08-06** Read second time. Ordered to Consent Calendar. `reading-1, reading-2`
- **2024-08-12** Read third time. Passed. Ordered to the Assembly. (Ayes 38. Noes 0. Page 5043.). `passage, reading-1, reading-3`
- **2024-08-12** In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 14 pursuant to Assembly Rule 77.
- **2024-08-15** Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 75. Noes 0. Page 6317.). `amendment-passage, committee-passage-favorable`
- **2024-08-23** Enrolled and presented to the Governor at 4 p.m.
- **2024-09-29** Approved by the Governor. `executive-signature`
- **2024-09-29** Chaptered by Secretary of State - Chapter 945, Statutes of 2024. `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/d6f13e16-4f4e-4e00-93ec-8c8d192566ba`. Confidence: reported (aggregated from official California legislature records).