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ARTICLE · 09 MAY 2022

Governor Newsom Signs Blockchain Executive Order

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As the fifth-largest economy in the world, Newsom's executive order potentially tees up California to become a hub for blockchain technology innovation.

United StatesTechnology
James Gatto
James Gatto
Moorari K. Shah
Moorari K. Shah
Sarah Aberg
Sarah Aberg
A.J. Dhaliwal
A.J. Dhaliwal
Gabriel Khoury
Gabriel Khoury
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In an apparent follow up to President Biden's March Executive Order on Digital Assets (which we previously discussed here), this week, California Governor Gavin Newsom signed a similar executive order aiming to foster responsible innovation, bolster California's innovation economy, and strengthen consumer protection through creating a transparent regulatory and business environment for Web3 companies.  Newsom's executive order credits Biden's executive order as paving the way for the assessment of key issues raised by crypto-assets and sets California on a path to harmonize its nascent crypto regulatory framework with forthcoming federal rules and guidelines and, hopefully, create regulatory clarity for businesses and consumers.

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