The "Digital Financial Assets Act" passed in California in August has faced opposition from companies such as Block and Coinbase

According to Chain Catcher news, as reported by Business Insider, the Digital Financial Assets Act passed in California in August was delivered to Governor Gavin Newsom on September 12 and will officially take effect upon his signature. The act requires cryptocurrency and digital asset trading companies to obtain a license before operating in the state.

Currently, companies and industry associations, including Amazon, Apple, Block, Coinbase, and Google, have expressed opposition to the passage of the act. Among them, the tech industry association Chamber of Progress stated that the licensing requirements would harm the interests of small companies; the Electronic Transactions Association indicated that the registration requirements are overly cumbersome and that the definition of "digital financial assets" is somewhat vague. (Source link)