California Code, FIN 3401.

California Code, FIN 3401.

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Financial Code - FIN

DIVISION 1.25. Digital Financial Assets Businesses [3101 - 3907] Â Â ( Division 1.25 added by Stats. 2023, Ch. 792, Sec. 1. ) Â Â

CHAPTER 4. Enforcement [3401 - 3415] Â Â ( Chapter 4 added by Stats. 2023, Ch. 792, Sec. 1. )

  3401.  For the purpose of this chapter, “enforcement measure” means an action that includes, but is not limited to, all of the following: (a) Suspend or revoke a license under this division. (b) Order a person to cease and desist from doing digital financial asset business activity with, or on behalf of, a resident. (c) Request the court to appoint a receiver for the assets of a person doing digital financial asset business activity with, or on behalf of, a resident. (d) Request the court to issue temporary, preliminary, or permanent injunctive relief against a person doing digital financial asset business activity with, or on behalf of, a resident. (e) Assess a penalty under Section 3407. (f) Recover on the security under Section 3207 and initiate a plan to distribute the proceeds for the benefit of a resident injured by a violation of this division, or law of this state other than this division that applies to digital financial asset business activity with, or on behalf of, a resident. (g) Impose necessary or appropriate conditions on the conduct of digital financial asset business activity with, or on behalf of, a resident. (h) Seek restitution on behalf of a resident if the department shows economic injury due to a violation of this division. (Added by Stats. 2023, Ch. 792, Sec. 1. (AB 39) Effective January 1, 2024.)