<h4>Quick Take</h4> <ul> <li>Crypto firms can currently operate in California without money transmitter licenses, but a bill up for consideration by the California State Assembly may change that </li> <li>The bill would impose a license requirement on firms that conduct cryptocurrency-related business with California residents</li> <li>Some believe that the bill adds unnecessary burdens to crypto businesses, which can already operate in California without a license, while others think it provides much-needed regulatory clarity</li> </ul>