NOTICE OF INTENT TO AWARD: Secondary RFP #2024-DFA-088478-2 Digital Financial Asset Law (DFAL #2)

BU #1701 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.

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). The detailed work plan should include a description of how the tasks described below will be accomplished, including a proposed schedule. Proposals will be evaluated based on the narrative response to how tasks and deliverables will be executed.

Proposers are encouraged to review the assessment section of this RFP to understand how responses will be scored. Proposals are asked to restrict their response to the RFP to be between 10-15 pages, single-spaced, arial 11-point font.

Please copy link below into your web browser to view solicitation documents, submit questions, and submit your response to this solicitation in our City Innovate platform.
https://sb.cityinnovate.com/teams/dfpi?challenge_id=15016

Notice of Intent to award now posted. Please see event package attachments.