§ 3901. — 3901. (Added by Stats. 2023, Ch. 871, Sec. 1.)

California § 3901.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 1.25.: DIVISION 1.25. Digital Financial Assets Businesses
• Ch. 9.: CHAPTER 9. Digital Financial Asset Transaction Kiosks

Text

For purposes of this division:
(a)
“Charges” means either of the following:
(1)
Fees or expenses paid by the customer.
(2)
The difference between the current market price of the digital financial asset on a licensed digital financial asset exchange and the price of the digital financial asset charged to the customer.
(b)
(1)
“Digital financial asset transaction kiosk” means an electronic information processing device that is capable of accepting or dispensing cash in exchange for a digital
financial asset.
(2)
As used in this subdivision, “cash” means physical United States currency, both coins and paper currency.
(c)
“Licensed digital financial asset exchange” means a digital financial asset exchange that is not an operator and has either of the following:
(1)
A license to conduct virtual currency business activity in this state or the State of New York pursuant to Part 200 of Title 23 of the New York Codes, Rules and Regulations.
(2)
A license pursuant to this division.
(d)
“Operator” means a person who owns, operates, or manages a digital financial asset transaction kiosk located in
this state.

Legislative History

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