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The order indicates that California intends to participate more deeply in the debate on how to regulate the fast-growing cryptocurrency industry because of concerns about its impact on the financial system.
"The government often lags behind technological progress, so we are ahead in this regard, laying the foundation for the prosperity and development of consumers and enterprises," Newsom said in a statement.
The governor's press statement said that Newsom's order is based on President Biden's executive order on cryptocurrency, which emphasizes the importance of cryptocurrency innovation and the need to protect consumers, investors and enterprises. The statement said that the goal is to "create a transparent and consistent business environment for companies operating in the blockchain field".
In the context of the increasingly fierce debate on how to regulate cryptocurrency at the Washington and state levels, California hopes to "participate in and encourage the clarity of regulation through the progress of the procedures outlined in the federal executive order, and closely coordinate state government agencies with the California governor's office in Washington, D.C.".
Responsible editor: study875