The California Assembly approved AB 2285 on a 45-1 vote June 18, advancing Assemblymember Valencia’s bill that would set rules for blockchain staking by state-chartered banks, credit unions and crypto exchanges.
The measure drew debate over whether California should regulate staking while preserving consumer protections and avoiding interference with existing legal disputes. According to the Assembly floor record, opponents raised concerns about consumer safeguards, securities oversight and possible effects on ongoing litigation involving crypto companies including Coinbase.
The bill’s passage gave the measure momentum after a contentious floor debate, though the source record reviewed here does not include the final bill text or identify the lone no vote.
AB 2285 is one of several crypto-related measures moving through the Legislature as lawmakers weigh how much oversight to impose on a fast-changing digital asset industry.
