California widens its vision toward the cryptocurrency market after acknowledging its popularity. Regulators have decided to embrace cryptocurrencies along with the technological developments that follow.
The United States has been friendly with cryptocurrencies ever since the People’s Republic of China decided to sever ties with the entire virtual market. Currently, the country competes among the three most essential computer territories globally, along with India and South Korea.
Governor in California is attracted to crypto
Newsom Gavin, governor of California since 2019, seems interested in crypto trading. Newson has just announced that all state agencies must work with the federal authority to create a regulatory plan for cryptocurrencies. In this way, it will be possible to use the new financial scheme and thus make use of its technology.
On the other hand, Newson ordered the state representatives to investigate the blockchain network and create a bold plan to incorporate it into his government. The Director of the Governor’s Office of Business and Economic Development, Myers Dee Dee, believes that expanding the blockchain network would open the doors to new companies, jobs and options for citizens.
However, Myers advanced that very little is known about the Blockchain network, which is why the entire cabinet in the state must investigate it. The agent agrees with Newson’s orders and seeks to support him in any way she can.
States in the US follow the cryptographic scheme
California has shown interest in the crypto world, but Arizona and Wyoming have joined this task. Both states have worked to create their regulatory laws and thus take everything good from the virtual market. It is good to know that cryptos share a market divided between suitable technologies and a landscape of scams or fraud.
For 2020, California announced the incorporation of a financial agency that had the power to take care of cryptocurrency fans. In previous months, the state authority has prevented various fraud methods affecting user experience.
As Newsom orders imminent crypto market regulation, citizens take advantage of virtual transactions in Bitcoin or other tokens. California enters the list of states interested in cryptocurrencies like Florida, Texas, Wyoming, and Arizona. It is not yet clear what developments Newson will allow in the territory, but it is expected that he will be in support of virtual commerce and not as a measure that slows down his progress.
Source: https://www.cryptopolitan.com/california-adopts-and-regulates-crypto/