AB-236 • 2026

Digital financial asset businesses: regulatory fees.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Chen
Last action: 2026-02-02
Official status: From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
Effective date: Not listed

Plain English Breakdown

The official source material does not provide information on consequences for non-payment of fees or changes to other licensing rules beyond setting a maximum fee limit.

Regulating Fees for Digital Money Businesses

AB-236 sets a maximum limit of $5,000 on the fee that companies must pay when applying to be licensed by the Department of Financial Protection and Innovation to operate with digital financial assets in California.

What This Bill Does

Sets a maximum limit of $5,000 for the nonrefundable application fee required for licensing under the Digital Financial Assets Law.
Applies this limit to businesses dealing with digital financial assets that are used as mediums of exchange, units of account, or stores of value and are not legal tender.

Who It Names or Affects

Companies applying for licenses to work with digital financial assets in California after July 1, 2026.
The Department of Financial Protection and Innovation which oversees the licensing process.

Terms To Know

Digital Financial Asset: A digital representation of value that is used as a medium of exchange, unit of account, or store of value but is not legal tender.
Department of Financial Protection and Innovation: The California agency responsible for overseeing financial businesses and protecting consumers in the state.

Limits and Unknowns

Does not specify consequences if a company does not pay the fee.
Only sets a limit on fees, but does not change other rules about getting licensed.
Applies only to companies dealing with digital financial assets after July 1, 2026.

Bill History

2026-02-02 California Legislative Information
From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
2026-01-31 California Legislative Information
Died pursuant to Art. IV, Sec. 10(c) of the Constitution.
2025-05-23 California Legislative Information
In committee: Held under submission.
2025-04-09 California Legislative Information
In committee: Set, first hearing. Referred to APPR. suspense file.
2025-03-03 California Legislative Information
From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 0.) (March 3). Re-referred to Com. on APPR.
2025-02-10 California Legislative Information
Referred to Com. on B.&F.
2025-01-14 California Legislative Information
From printer. May be heard in committee February 13.
2025-01-13 California Legislative Information
Read first time. To print.

Official Summary Text

AB 236, as introduced, Chen.
Digital financial asset businesses: regulatory fees.
Existing law, the Digital Financial Assets Law, prohibits a person, on or after July 1, 2026, from engaging in digital financial asset business activity, or holding itself out as being able to engage in digital financial asset business activity, with, or on behalf of, a resident, unless certain conditions are met. These conditions include that the person is licensed with the Department of Financial Protection and Innovation, as prescribed, or the person submits an application on or before July 1, 2026, and is awaiting approval or denial of that application. Existing law defines “digital financial asset” for these purposes to mean a digital representation of value that is used as a medium of exchange, unit of account, or store of value, and that is not legal tender, whether or not denominated in legal tender, except as specified.
Existing law requires an applicant for a license under these provisions to submit the application with a nonrefundable fee in an amount determined by the department to cover the reasonable costs of application review.
This bill would prohibit that fee from exceeding $5,000.

Current Bill Text

Read the full stored bill text

Download Bill PDF