, which would tighten oversight of the industry in California where many U.S.-based crypto firms are based. They"offered amendments and feedback" after the bill was introduced, Kasselman said. He said their"main amendment focus" was the bill's"implementation period."
If signed into law by Gov. Gavin Newsom, the bill would go into effect in 2025 and require companies, such as digital-asset exchanges, to obtain licenses through the state's Department of Financial Protection and Innovation. Kasselman also noted that Messina guided them on how best to lobby the European Parliament on its crypto regulation known as Markets in Crypto-assets rules.
Kasselman said they won their latest battle with members of the parliament and their staff as the EU was deciding"whether or not it would basically decide to make non custodial wallets illegal," he said. These types of digital wallets, which Blockchain.com promotes on its website, act"It's core to our business belief that we should give people control of their assets and protect it from all other potential interference.
Swan, the company's head of European policy, met with the staff of EU commissioner of financial services, Mairead McGuinness, in May to discuss so-called transfer of funds regulation, according to a disclosure report. McGuiness has been critical of cryptocurrencies, and said digital assets were"one of the newest ways to launder money" in a tweet last year.Our rules will now apply to the whole of the crypto sector.