Department of Financial Protection and Innovation (DFPI) The Digital Financial Asset Law (DFAL), signed into law by Governor Newsom on October 13, 2023, creates a robust regulatory framework, including licensure and enforcement authority, for certain crypto activities. This law creates a comprehensive regulatory program for many crypto companies, requires DFPI to license and supervise many crypto asset-related companies that serve California residents, and provides important consumer protections for users. Furthermore, DFAL requires additional obligations for crypto kiosks operating in California. The DFPI is seeking experienced consultants to assist in the development of comprehensive cybersecurity and operational security review processes and procedures to assess the adequacy of digital financial asset businesses operational systems. The consultant should have expertise in digital asset cybersecurity services such as data governance and data protection and security. The consultant must have knowledge and experience developing cybersecurity risk assessments, identifying cybersecurity threats and vulnerabilities, and assessing best practices for security controls. To assist in this effort, we are seeking consultants with expertise in cybersecurity and operational security risks to assist the department in its development of comprehensive processes to review DFAL applicants and eventual licensees. In responding to this RFP, Proposers must describe their approach in a detailed work plan and explain what capacities and experiences uniquely set them apart to be successful in executing the Digital Financial Asset Law (DFAL).
