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California moves to embrace cryptocurrency and regulate it

China Cryptocurrency
Posted at 3:18 PM, May 04, 2022
and last updated 2022-05-04 15:21:29-04

SACRAMENTO, Calif. (AP) — California is the first U.S. state to formally begin examining how to broadly adapt to cryptocurrency and related technologies, following a path laid out by President Joe Biden in March.

Gov. Gavin Newsom signed an executive order Wednesday for California agencies to move in tandem with the federal government to craft regulations for digital currencies.

It also calls for the state to explore incorporating broader blockchain technologies into state operations.

Ohio was the first to attempt to accept virtual currency for government services in 2018, though the program was soon discontinued.

Colorado Gov. Jared Polis says his state will begin accepting cryptocurrency for government services later this year.