Committee advances digital‑assets measures and consent items including AB 10 52, AB 11 80 and AB 407

The committee addressed a set of shorter items and consent calendar measures that moved out of committee with recorded roll calls.

AB 10 52 (Valencia) — digital‑asset legal framework Assemblymember Valencia sponsored AB 10 52, which would add statutory clarity for certain digital assets, set rules for unclaimed digital property, and bar public officials from issuing or promoting digital assets while in office. Dennis Porter of the Satoshi Action Fund testified in support, saying the bill was needed to protect consumers and public trust. The Consumer Federation of California submitted an "opposed unless amended" position focused on Section 5 and urged the author to remove or refine that section. The committee voted to pass and refer AB 10 52 to the Committee on Elections; the transcript records the committee saying the bill "has 7 votes."

AB 11 80 (sponsor not specified in transcript) — DFPI pilot for cryptocurrency payments AB 11 80 would direct the Department of Financial Protection and Innovation to run a pilot program and report to the Legislature on allowing state agencies to accept digital‑financial‑asset payments and on related operational challenges. The California Blockchain Advocacy Coalition testified in support. The committee voted to pass AB 11 80 as amended and refer it to Appropriations; the transcript records the committee marking the bill as carrying seven votes.

AB 407 (Jackson) — California Pollution Control Financing Authority AB 407, introduced by Assemblymember Jackson, was taken on the consent calendar. Jackson said he would accept committee amendments; Connie Morton, deputy treasurer, appeared for questions. The committee approved AB 407 as amended and referred it to Local Government; the clerk recorded "That is 7 0."

Why it matters: The digital‑assets bills aim to set state rules on novel financial instruments, unclaimed property, and potential agency acceptance of digital payments, while AB 407 pertains to state pollution‑control financing. Consumer groups asked for tightened language on digital‑asset consumer protections; industry proponents said the measures would modernize rules and enable innovation.

Procedural outcome: The committee advanced AB 10 52 and AB 11 80 to subsequent committees and approved AB 407 on the consent calendar; recorded tallies in the hearing transcript show seven votes in favor for each of the digital‑asset bills and a 7‑0 tally for AB 407.