§ 3407
127 words·~1 min read·
/ca/financial-code/3407A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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.