California Financial Code

§ 3905

FIN § 3905 Effective Jan 1, 2024Div. 1.25 · Ch. 9

Statute text

(a)(1) On or after January 1, 2025, before a digital financial asset transaction, an operator shall provide a written disclosure in English and in the same language principally used by the operator to advertise, solicit, or negotiate with a customer containing the terms and conditions of the transaction, which shall include, at a minimum, all of the following:

(A)The amount of a digital financial asset involved in the transaction.

(B)The amount, in United States dollars, of any fees, expenses, and charges collected by the operator.

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Legislative history

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