The state of California, which surpasses many major countries in the world with its GDP of more than 3 trillion dollars, could not remain silent about digital and cryptocurrency innovation. State governor Gavin Newsom signed the Digital Financial Asset Act.
The new law applies to state employees
While it provides the Financial Protection and Innovation Unit (DFPI) with full authority over regulations, it also gives the right to license companies that do/will do business in cryptocurrencies. The department will be able to carry out an 18-month trial period after enacting the law it has determined.
Governor: Fraud will decrease, innovation will increase
Speaking on the subject, Governor Newsom said that thanks to this new law, fraud will decrease and
In this way, greater trust in the digital space
He said it would increase:
“It is crucial that we find and embed the appropriate balance between protecting consumers and investors from harm and fostering a responsible innovation environment. "Thanks to this law, fraud will decrease significantly, but innovation will also increase."
Last year, the DEPI unit met with Coinbase executives during the period when the law on cryptocurrencies and digital assets was being drafted. The parties held meetings on how the law should be.
Last year, Governor Newsom also rejected a crypto bill that he claimed had some deficiencies.$BTC $ETH $BNB
The new law applies to state employees
While it provides the Financial Protection and Innovation Unit (DFPI) with full authority over regulations, it also gives the right to license companies that do/will do business in cryptocurrencies. The department will be able to carry out an 18-month trial period after enacting the law it has determined.
Governor: Fraud will decrease, innovation will increase
Speaking on the subject, Governor Newsom said that thanks to this new law, fraud will decrease and
In this way, greater trust in the digital space
He said it would increase:
“It is crucial that we find and embed the appropriate balance between protecting consumers and investors from harm and fostering a responsible innovation environment. "Thanks to this law, fraud will decrease significantly, but innovation will also increase."
Last year, the DEPI unit met with Coinbase executives during the period when the law on cryptocurrencies and digital assets was being drafted. The parties held meetings on how the law should be.
Last year, Governor Newsom also rejected a crypto bill that he claimed had some deficiencies.$BTC $ETH $BNB
