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The California governor wants to promote the adoption of blockchain

                                                            Der Gouverneur von Kalifornien – Gavin Newsom – führte eine Exekutivverordnung zu digitalen Vermögenswerten ein, die darauf abzielt, einen regulatorischen Rahmen für die Branche zu schaffen und die Einführung von Blockchain zu fördern.

California to become a crypto hub?

The governor of the US state with the largest economy has an executive order cryptocurrencies enacted, which provides a roadmap for regulatory and consumer protection. It also explores how digital assets and blockchain technology can be integrated into Californian businesses.

Dee Dee Myers – senior advisor to Governor Gavin Newsom – noted that the western state is a preferred location for crypto-related businesses. Therefore, local authorities will be eager to support their efforts with friendly legislation:

“Of the 800 blockchain companies in North America, about a quarter are in California, dramatically more than any other state. We’ve heard from so many that they want to be here and we want to help them do it responsibly.”

Newsom’s executive order aims to “create a transparent and consistent business environment for companies doing business on blockchain, including crypto assets and related financial technologies.” The policy will “harmonize” federal and California laws and the benefits and risks to consumers of dealing with Bitcoin and weigh altcoins.
Gavin Newsom, LA Times
In addition, the assignment will focus on issues such as energy consumption when mining cryptocurrencies, climate risks and the use of digital assets in criminal activities.

“The possibilities are nearly unlimited. For example, we can remove intermediaries from real estate or even car transactions. We can use it to protect people’s identities and provide benefits to people through government services. When we sell carbon offsets, we can ensure that the same forest is not being sold twice and that there are transparent records,” Myers concluded.

Digital asset laws are currently pending in 37 US states. In February, New Hampshire issued an executive order to propose new bitcoin laws.

Biden’s Executive Order on Crypto

Two months ago, the President of the United States – Joe Biden – issued the first-ever White House executive order on digital assets. The document acknowledges the growth of cryptocurrencies in recent years and outlines how they can benefit American society:

“The rise of digital assets creates an opportunity to reinforce American leadership in the global financial system and at the technological frontier.”

However, the policy noted that using crypto comes with its risks and as such, investors should enjoy maximum protection when looking into the asset class.

Source: Crypto News Deutsch

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