California Adopts Digital Financial Assets Law
Global Fintech & Digital Assets
OCTOBER 31, 2023
The DFAL contains an exclusion for persons that contribute “only connectivity software … to a protocol governing transfer of the digital representation of value.” Creators of DeFi protocols also appear to not be included, although questions arise on whether providers of interfaces to such protocols would be covered. 6] 23 NYCRR Part 200.
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