California launches its plan to regulate the local crypto market and train professionals

For Cripto247 Editorial Office

California launches its plan to regulate the local crypto market and train professionals
California launches its plan to regulate the local crypto market and train professionals

Governor Gavin Newsom signed an executive order for state agencies to work together on a regulatory framework.

The Governor of California, Gavin Newsom, signed an executive order to create a regulatory framework for the crypto market. The initiative is mainly aimed at companies that operate with bitcoin (BTC) and other altcoins and has the objective of “explore opportunities to implement blockchain technologies to address emerging and public service needs”.

The order signed by the governor empowers a broad group of regulatory agencies to analyze the particular uses of each company and determine whether or not to accept the crypto providers in question. In this analysis, several factors will be taken into account, such as the relevance of the firm and the energy use that you have

The Governor’s Office of Business and Economic Development (GO-Biz) shall collaborate with the Bureau of Business, Consumer Services and Housing (BCSH) and the Department of Financial Protection and Innovation (DFPI) to collect feedback on how to operate properly. Talking to industry experts, businesses operating in the state, and lower-income communities will be the first steps.

Read more:California could also accept bitcoin for payment of state taxes

California is a global hub for innovation and we are setting the state up for success with this emerging technologystimulating responsible innovation, protecting consumers and harnessing this technology for the public good”assured Newsom.

On the other hand, the other great pillar of the document signed by Newsom has to do with the implementation of crypto content in the educational system and the creation of jobs in the sector. The Governor’s Council for Post-Secondary Education will be in charge of investigating a proposal that strengthens innovation in the crypto area, with a view to training professionals.

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Keep reading:

Pro-crypto senator works on a project to regulate cryptocurrencies the same as traditional assets
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Crypto Referents Respond to Environmental Criticism of Bitcoin and Defend PoW Mining

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