California Begins Enforcing State-Level Crypto Licensing With DFAL

California has set a firm licensing clock for digital asset firms that want to keep serving residents of the state. The California Department of Financial Protection and Innovation issued a formal implementation update for the Digital Financial Assets Law, confirming that any individual or company conducting covered crypto activity for or on behalf of California residents must, by July 1, 2026, hold a DFAL license, have submitted a license application, or qualify for an exemption. Applications will open ...