Financial Code section 3407

(a)

If a person other than a licensee has engaged, is engaging, or is about to engage in digital financial asset business activity with, or on behalf of, a resident in violation of this division, the department may assess a civil penalty against the person in an amount not to exceed one hundred thousand dollars ($100,000) for each day the person is in violation of this division.

(b)

If a licensee or covered person materially violates a provision of this division, the department may assess a civil penalty in an amount not to exceed twenty thousand dollars ($20,000) for each day of violation or for each act or omission in violation.

(c)

A civil penalty under this section continues to accrue until the date the violation ceases.

Source: Section 3407, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=3407.­ (accessed May 14, 2025).

Last Updated

May 12, 2025

§ 3407’s source at ca​.gov