The California State Assembly has passed a bill that could allow state agencies to accept cryptocurrencies.
Bill 1180 (AB 1180) was approved by the lower house with 68 votes in favor and none against, and now moves on to the Senate.
If Governor Gavin Newsom signs it into law, the bill would require the Department of Financial Protection and Innovation (DFPI) to establish regulations for cryptocurrency payments under the Digital Financial Assets Law.
A pilot program would be conducted until 2031 before full implementation.
California would follow in the footsteps of states such as Florida, Colorado, and Louisiana in adopting cryptocurrency payments for government transactions.