On or after January 1, 2025, an operator shall not collect charges, whether direct or indirect, from a customer related to a single digital financial asset transaction that exceed the greater of the following:

(a) Five dollars ($5).

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Terms Used In California Financial Code 3904

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.

(b) Fifteen percent of the United States dollar equivalent of digital financial assets involved in the transaction according to the publicly quoted market price of the digital asset on a licensed digital financial asset exchange at the time the customer initiates the transaction.

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

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