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Assembly Member Timothy S. Grayson digital financial asset business to licensing and oversight by Department of Financial Protection & Innovation. The new bill, AB 39, has two principal co-authors Assembly Member Cottie Petrie-Norris and Senator Monique Limón.
Harvard Law School Forum on Corporate Governance Jai Massari discusses a new paper that argues fungible cryptoassets are not securities under existing U.S. federal securities laws while initial coin offerings ICOs and similar token sales should be regulated as securities.