Fin. Code, § 3905 · Chapter 9. Digital Financial Asset Transaction Kiosks
Fin. Code, § 3905
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) (1) On or after January 1, 2025, before a digital financial asset transaction, an operator shall provide a written disclosure in English and in the same language principally used by the operator to advertise, solicit, or negotiate with a customer containing the terms and conditions of the transaction, which shall include, at a minimum, all of the following:
(A) The amount of a digital financial asset involved in the transaction.
(B) The amount, in United States dollars, of any fees, expenses, and charges collected by the operator.
(C) The United States dollar price of the digital financial asset that is charged to the customer and the United States dollar price of the digital financial asset as listed by a licensed digital financial asset exchange.
(D) If an operator does not provide a method to reverse or refund a transaction, a warning that all transactions are final and cannot be undone.
(2) The disclosure required by this subdivision shall be clear and conspicuous and provided separately from any other disclosure provided by the operator.
(b) An operator shall provide a customer with a receipt for any transaction made at the operator’s digital financial asset transaction kiosk that includes all of the following information:
(1) The name of the customer.
(2) The date and time of the transaction.
(3) The name of the operator.
(4) The amount of a digital financial asset involved in the transaction.
(5) The amount of United States dollars involved in the transaction.
(6) The amount, in United States dollars, of any fees collected by the operator in relation to the transaction.
(7) The amount, in United States dollars, of any spread between the United States dollar price of the digital financial asset that is charged to the customer and the United States dollar price of the digital financial asset as listed by a licensed digital financial asset exchange.
(8) The name of the licensed digital financial asset exchange the operator used to calculate the spread described in paragraph (7).
Notes and commentary — not statutory text
History
Added by Stats. 2023, Ch. 871, Sec. 1. (SB 401) Effective January 1, 2024.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=3905.
- Text hash
- sha256 0df01c1b6bd339fecf8d522a40c97ef844605e31f2caef472982689ca89a58b7
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.