Race Day Live California has a strict anti-price gouging law, Penal Code Section 396. This law stops businesses from unfairly increasing prices during emergencies.
It gets triggered when the President or California’s Governor declares a state of emergency. Recently, former President Donald Trump declared two emergencies—a border crisis and an energy crisis—right after his second term started.
The question is: do these declarations activate California’s law? Since neither emergency is directly about California, it’s unclear if the state’s price-gouging rules apply.
However, the law doesn’t specifically say the emergency must happen in California, so there’s a possibility these declarations could still trigger it.
In another development, Mark T. Uyeda, a former California Department of Corporations (now known as the Department of Financial Protection & Innovation) alumnus, was recently appointed as the acting Chairman of the U.S. Securities & Exchange Commission (SEC) by Donald Trump. Uyeda has a long career in corporate law and financial regulation.
He started at the SEC in 2022 as a Commissioner and has worked in various senior roles there, including as an advisor to multiple leaders.
Before this, Uyeda was appointed by former Governor Arnold Schwarzenegger as a top advisor in California’s securities department.
Born in Orange County, California, Uyeda has impressive academic credentials. He studied business at Georgetown University and earned his law degree at Duke University.
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Over the years, he’s worked on major federal committees, like the U.S. Treasury and the U.S. Department of Labor.
Uyeda is making waves as the acting SEC Chair. He’s already announced a new task force focused on cryptocurrency regulations.
This team aims to address issues like fraud and help create better rules for the rapidly changing crypto industry.
These two updates—Trump’s emergency declarations and Uyeda’s appointment—raise important questions for Californians.
How will state laws adapt to national emergencies, and what does the future of crypto regulation look like under new leadership? These are areas to watch closely.
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