California moves to embrace cryptocurrency and regulate it

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By DON THOMPSON Associated Press
SACRAMENTO, Calif. (AP) — California, which would have the world’s fifth-largest economy if it was a country, on Wednesday became the first U.S. state to formally begin examining how to broadly adapt to cryptocurrency and related innovations, following a path laid out by President Joe Biden in March.
Gov. Gavin Newsom signed an executive order for state agencies to move in tandem with the federal government to craft regulations for digital currencies. It also calls for officials to explore incorporating broader blockchain computer coding into the government operations of the state where much of the world’s technological innovation is born.
Evolving blockchain and cryptocurrency technology “is potentially an explosive creator of new companies and new jobs and new opportunities,” said Dee Dee Myers, a senior advisor to Newsom and director of the Governor’s Office of Business and…

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