The order aims to bolster and regulate the crypto industry.
, Newsom’s goal is “to create a transparent and consistent business environment for companies operating in blockchain,” that balances “the benefits and risks to consumers.”
The executive order calls upon the California Governor’s Office of Business and Economic Development to collaborate with the state’s Department of Financial Protection and Innovation and Business, Consumer Services and Housing Agency . Together, the state agencies are tasked with devising “potential blockchain applications and ventures,” which could include applications in the “private sector, academia, and community.
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