California Governor Gavin Newsom has signed an executive order on crypto and blockchain to create a comprehensive and harmonized framework for Web3 technology to thrive. “California is a global hub of innovation, and we’re setting up the state for success with this emerging technology,” said the governor.
California’s Governor Issues Executive Order on Blockchain and Crypto
The governor of the U.S. state of California, Gavin Newsom, signed an executive order Wednesday to “create a clear and consistent business environment for firms operational in blockchain, as well as crypto assets and connected monetary technologies,” according to a notice revealed by the workplace of the governor.
The notice states:
California becomes the first state in the nation to begin creating a comprehensive and harmonized framework for responsible web3 technology to thrive.
Under Governor Newsom’s executive order, the state also will “assess how to deploy blockchain technology for state and public institutions, and build research and personnel development pathways to arrange Californians for success in this trade.”
The notice adds that the executive order “aims to form a pipeline of talent for the rising industry and utilize the technology for public good.”
Governor Newsom commented: “California may be a world hub of innovation, and we’re putting in the state for achievement with this rising technology.” He opined:
Too often government lags behind technological advancements, so we’re getting ahead of the curve on this, laying the foundation to allow for consumers and business to thrive.
California’s executive order builds on President Joe Biden’s government order on the regulation of crypto assets, that he signed in March.
( Kevin Helms, bitcoin.com, 2022 )