Gov. Newsom Moves to Embrace, Regulate Crypto Industry in California via Executive Order

California Gov. Gavin Newsom speaks in Los Angeles, Calif., on Nov. 10, 2021. John Fredricks/The Epoch Times

Governor Gavin Newsom this week touted California as being the first U.S. state to create a comprehensive regulatory framework for blockchain technologies and crypto digital assets, according to a press release.

Newsom signed an executive order on May 4 on cryptocurrencies which he said will “create a transparent regulatory and business environment for Web 3 companies” in the golden state.