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California Governor Signs Executive Order to Promote Crypto

California Governor Signs Executive Order to Promote Crypto

May 05, 2022
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Democratic governor Gavin Newson signed the executive order earlier this week.

The West coast state of California has chosen to increase its openness towards crypto investments through an executive order signed by Governor Gavin Newson (D), which he hopes will put the state ahead of the crypto curve. The order will have the goal of looking for new ways to promote blockchain and Web3 innovative technologies in the state, while at the same time seeking to protect consumers. “California is a global hub of innovation, and we’re setting the state for success with this emerging technology,” the governor said.

According to the governor’s press release, the order will not only seek to help Web3 companies find the rights pace, but will also consider the industry’s negative impacts, especially when it comes to climate change. California is already on the forefront of crypto development in the United States, with San Francisco and Los Angeles having already seen some of the biggest number of crypto hires in the country last year.

However, other states in the country are also accelerating on the crypto pedal: Miami and New York mayors Francis Sanchez and Eric Adams have recently taken their salaries in Bitcoin (BTC) and Ethereum (ETH), and the New York mayor especially is looking to open the whole city up for more crypto investments, criticizing the Big Apple’s BitLicense requirements for business seeking to enter the digital asset world.

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