California (CA)
Money transmission and virtual currency licensing planning data for California.
Population weight (planning): 11.40% · Back to matrix · Launch map
How to read this page: confirmed cells are checked against a primary regulatory source and dated. Under review marks a cell where primary sources conflict or a figure awaits confirmation.
MTL required
Yes: a DFPI Digital Financial Assets Law licence is mandatory for covered crypto activity since 1 July 2026. Whether the fiat leg also needs a Money Transmission Act licence is transitional: DFPI proposed exempting DFAL persons (PRO 02-23, 10 CCR 80.3002), but the rule was not final as of 16 July 2026.
Verified 2026-07-16. Source · under review
Fiat treatment
Standalone fiat transmission sits under the Money Transmission Act (Fin. Code 2003). For DFAL persons, transmitting payment for the purchase, exchange or sale proceeds of a digital financial asset is the subject of a proposed MTA exemption in PRO 02-23, not yet effective.
Verified 2026-07-16. Source · under review
Virtual currency treatment
A separate licensing regime, not folded into the Money Transmission Act: the Digital Financial Assets Law requires its own licence for exchanging, transferring, storing or redeemably issuing digital financial assets for California residents, running alongside the fiat MTA licence here. Fin. Code 3103.
Verified 2026-07-16. Source
Regulator
California Department of Financial Protection and Innovation (DFPI) administers both the Money Transmission Act and the Digital Financial Assets Law.
Verified 2026-07-16. Source
NMLS / portal
Money Transmitter License and Digital Financial Asset Business License, both filed through the Nationwide Multistate Licensing System.
Verified 2026-07-16. Source
MTMA adoption
partial: A.B. 1116 (2023); see also A.B. 1498 (2022), effective January 1, 2025.
Verified 2026-07-16. Source
Launch posture
red: new mandatory DFAL regime with DFPI-determined security and capital, plus unresolved MTA overlap while the PRO 02-23 exemption remains a proposed rule.
Verified 2026-07-16. Source
Net worth / capital (locked)
Net worth / capital is included with access.Permissible investments (locked)
Permissible investments is included with access.Exam / audit timeline (locked)
Exam / audit timeline is included with access.Practitioner notes (locked)
Practitioner notes is included with access.Under the planning scenario
LicenceMap's bond and net worth figures use one scenario throughout: a virtual currency exchange with a fiat on and off ramp, $50m in annual US transmission volume, $2m in average daily outstanding liability, and a single principal office.
Surety bond: Surety bond is included with access.
Net worth / capital: Net worth / capital is included with access.