California Governor Newsom Signs Executive Order on Crypto, Blockchain, and Web3

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California Governor Newsom Signs Executive Order on Crypto, Blockchain, and Web3 – Governor Gavin Newsom of California has signed an executive order on cryptocurrency and blockchain to establish a complete and harmonized framework for Web3 technology to thrive. “California is a worldwide innovation hub, and with this technological innovation, we’re preparing the state for success,” the governor said.

According to a notification published by the governor’s office, California Governor Gavin Newsom signed an executive order on Wednesday to “establish a transparent and consistent business environment for enterprises working in blockchain, including crypto assets and other related financial technology.”

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According to the notice:

California is the first state in the country to begin developing a comprehensive and standardized framework for the development of responsible web3 technologies.

The state will also evaluate how to implement blockchain technology for state and public institutions, and construct research and workforce development routes to prepare Californians for success in this market, Governor Newsom’s executive order detailed.

California Governor Newsom Signs Executive Order on Crypto, Blockchain, and Web3 – According to the notice, the executive order “aims to develop a talent pipeline for the emerging industry and leverage technology for the public good.”

“California is a worldwide hub of innovation, and we’re setting the state up for success with this emerging technology,” Governor Newsom said. 

Also Read: Crypto Industry Lobbies Against Bills Targeting Russian Oligarchs Evading Sanctions Using Cryptocurrency

He stated:

“We’re going ahead of the curve here, providing the groundwork for consumers and businesses to succeed.”

President Joe Biden signed an executive order on crypto asset regulation in March, and California’s executive order builds on that.

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