California Governor Signs Executive Order for State Agencies to Closely Study Blockchain and Cryptocurrencies

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California Governor Signs Executive Order for State Agencies to Closely Study Blockchain and Cryptocurrencies For Angel Di Matteo @shadowargel

The executive order signed by the Governor of California also calls for entities to incorporate these technologies into their operating models.

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Gavin Newsom, current governor of the US state of California, today signed an executive order requesting various state agencies to closely study cryptocurrencies and networks. blockchain, urging them to incorporate such technologies to improve their operational processes and improve their services for residents.

About the executive order signed by the Governor of California

According to information published by various media, the executive order signed by Newsom involves the Governor’s Office of Business and Economic Development, precisely to work hand in hand with the Business, Consumer Services and Housing Agencyas well as with the Department of Protection in Financial Innovation so that together they adopt a regulatory approach applicable to cryptocurrencies and their underlying technology.

Governor Newsom’s request follows in the footsteps of the executive order signed by US President Joe Biden, which at the time urged various government agencies to unify efforts and closely explore the applications of cryptocurrencies and blockchain, Therefore, it is expected that in the coming months the coalition of organizations will present a report with the results of the respective investigation.

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Among the specifics of the matter, it is established that within 60 days after the government agencies present their recommendations to President Biden on the subject, the agencies in California must do the same with Newsom to give guidelines on the regulatory approach that could apply at the state level. Aspects associated with energy consumption, environmental impact and the prevention of illicit activities were established as priorities within the topic.

The agencies involved will also have the responsibility to explore the usefulness of blockchain at the level of their operations, since the decree urges them to link this technology within the operation of their processes. It is contemplated that the organizations also request information from the private sector, who will be able to advise on research strategies for a better approximation.

Regulatory emphasis in the US

The new announcement by the governor of California joins the regulatory efforts promoted in several states of the North American nation, which are mainly promoted by legislators interested in the regulatory treatment applicable to these technologies.

According to information published by the National Conference of State Legislatures, To date, there are a total of 37 states that are already promoting bills associated with cryptocurrencies.

Let’s keep in mind that in the case of California, the state represents one of the largest economies in the world, so it could set the tone for the course to be followed for other jurisdictions within the country.

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Source: CNBC, Decrypt

Angel Di Matteo version / DailyBitcoin

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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