Official, California's DFAL Act, Signed by Gavin Newsom, Comes Into Effect on July 1st: How the Regulation Governing Digital Remittances and Wallets Apps Works
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As of July 1, a new regulation called DFAL, signed by Governor Gavin Newsom, comes into effect in California, establishing stricter controls over remittance apps, cryptocurrencies and digital wallets to strengthen the protection of users’ money. This law directly affects many platforms that the Latino community uses daily to send money to their families or manage their savings from the phone. Although regulation is focused on companies, its effe…
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