Cal. FIN § 3905
This is the official text of Cal. FIN § 3905, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Official statutory text
(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).
(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).
Status: in_force · Read it on the official government site
Need a lawyer in California?
Find a California lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.