California Financial Code

§ 3904

FIN § 3904 Effective Jan 1, 2024Div. 1.25 · Ch. 9

Statute text

On or after January 1, 2025, an operator shall not collect charges, whether direct or indirect, from a customer related to a single digital financial asset transaction that exceed the greater of the following:

(a)Five dollars ($5).

(b)Fifteen percent of the United States dollar equivalent of digital financial assets involved in the transaction according to the publicly quoted market price of the digital asset on a licensed digital financial asset exchange at the time the customer initiates the transaction.

Legislative history

Added by Stats. 2023, Ch. 871, Sec. 1. (SB 401) Effective January 1, 2024.