Gavin Newsom, the governor of California, has signed an executive order aimed at harmonizing a regulatory framework for blockchain between the federal government and the U.S. state as well as spurring innovation in the space.
In a Wednesday announcement, the California governor’s office said executive order N-9-22 and the California Consumer Financial Protection Law would allow the state to create “a transparent and consistent business environment for companies” in Web3 and the crypto space, including blockchain and financial technology firms. According to the order, the California state government will need to establish a regulatory approach to crypto assets concurrent with that laid out in U. S. President Joe Biden's executive order on digital assets signed in March.
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