California governor signs executive order to create a crypto framework

Governor Gavin Newsom signed an executive order Wednesday to begin the implementation of a crypto framework in the US state of California.  

The executive order builds on the recent order from Biden administration, which called on regulators to work together to mitigate risks and promote innovation.


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"California will begin the process of creating a regulatory approach to spur responsible innovation while protecting California consumers, assess how to deploy blockchain technology for state and public institutions, and build research and workforce development pathways to prepare Californians for success in this industry," said an announcement from the governor's office.

The state plans to create a "transparent and consistent business environment" for crypto firms by harmonizing federal and California laws. It will also collect feedback from stakeholders to build that framework and for potential opportunities to include blockchain technologies into state operations and public needs.

In February of this year, California became the latest state to consider authorizing state agencies to accept cryptocurrency as a method of payment for government services. That bill, which is in California's senate, is sponsored by State Senator Sydney Kamlager-Dove, a Democrat.

About Author

Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to or follow her on Twitter for updates @AislinnKeely.