The Governor of California signed an executive order to create a regulatory framework for cryptocurrency companies, as well as the introduction of blockchain and digital assets in the work of government departments.
As reported in press release governor’s office, one of the top priorities in the development of regulation should be “exploring the possibilities of deploying blockchain-based technologies to meet the current needs of the population and future problems.” The document is based on the decree of US President Joseph Biden from early March, where Biden requires coordination of efforts to study the consequences of integrating cryptocurrencies into the country’s financial system.
In an executive order, California Governor Gavin Newsom is asking the state’s Office of Business Development and Economics to coordinate with the Agency for Business, Consumer Services, and Housing and the Department of Financial Protection and Innovation. The agencies must provide recommendations within 60 days on how cryptocurrencies should be regulated in California.
The regulation should “create a regulatory approach to cryptoassets agreed between federal and state departments.” At the same time, the recommendations should take into account “priorities in the field of energy, climate problems and crime prevention.” The governor also calls for research into ways to integrate blockchain into California operations – departments are encouraged to work closely with private companies in this direction.
Previously, the Commerce and Consumer Protection Committee and the Hawaii State Ways and Means Committee approved the creation of a specialized task force to study and regulate digital currencies.
Source: Bits
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