California Governor Newsom Signs Executive Order on Crypto, Blockchain, and Web3 – Regulation Bitcoin News

California Governor Gavin Newsom issued an executive order about crypto and Blockchain to establish a comprehensive framework that allows Web3 technology 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 transparent and consistent business environment for companies operating in blockchain, including crypto assets and related financial technologies,” according to a notice published by the office of the governor.

It states that:

California became the first country to establish a comprehensive framework to allow responsible web3 technology development.

Under Governor Newsom’s executive order, the state will also “assess how to deploy blockchain technology for state and public institutions, and build research and workforce development pathways to prepare Californians for success in this industry.”

The notice adds that the executive order “aims to create a pipeline of talent for the emerging industry and utilize the technology for public good.”

Governor Newsom commented: “California is a global hub of innovation, and we’re setting up the state for success with this emerging 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 executive order on the regulation of crypto assets, which he signed in March.

Are you a fan of California’s executive order regarding crypto, Web3 and blockchain? Leave your comments below.

Kevin Helms

Kevin, a student of Austrian Economics and a Bitcoin evangelist since 2011, was one of the first to discover Bitcoin. His main interests are in Bitcoin security, open source systems, network effects, cryptography, and intersections between economics, cryptography, and Cryptography.