California Governor Signs Blockchain Decree

California Governor Signs Blockchain Promotion Executive Order. An initiative that responds to Joe Biden’s presidential executive order on cryptocurrencies.

California Governor Gavin Newsom has just signed a new executive order to develop blockchain in the state. This decree aims to encourage the responsible development of cryptocurrencies and ensure consumer protection. He also wants to help create a cohesive business environment and try to align federal and state laws. Finally, this decree will force the state to think about how blockchain technology can be used in its various government institutions.

California Governor Signs Blockchain Promotion Executive Order

Gavin Newsom recently referred to California as a “global center of innovation”but at the same time lamented that “government [often] lags behind in technological progress.”He explained that the decree signed today will help lay the foundations for “consumer and business prosperity.”

In a statement sent to CNBC, adviser Dee Dee Myers explained that a quarter of US blockchain companies are based in California. She added that the order should encourage them to stay in the state through responsible regulation. This new directive fits in perfectly with President Joe Biden’s crypto-currency executive order issued in March. The objectives were similar, in particular aimed at protecting consumers and promoting innovation.

Initiative in response to Joe Biden’s executive order on cryptocurrencies

Gavin Newsom was already a crypto advocate before he was elected Governor of California in January 2019. In 2014, he was one of the few US politicians to accept bitcoin donations for his campaign. He then encouraged Jared Polis, now Governor of Colorado, to raise as many bitcoin donations as possible this year. In 2020, he signed a law similar to the decree we are interested in today. This law renamed the State Department and gave it the power to regulate virtual currencies while promoting consumer innovation.