California Governor Gavin Newsom has refused to approve a bill that would have created a licencing and regulatory framework for digital assets, adding to the regulatory burdens already being felt by the crypto ecosystems.
California Governor Gavin Newsom has refused to approve a bill that would have created a licencing and regulatory framework for digital assets, adding to the regulatory burdens already being felt by the crypto ecosystems.
The purpose of Assembly Bill 2269 was to establish a system by which California might issue operating licences to crypto firms. The bill was unanimously approved by the California State Assembly on September 1 and sent on to the governor's office for signature.
Until federal laws "come into sharper focus for digital financial assets," Newsom stated, he would rather wait to engage with the Legislature to establish crypto licencing efforts.
The White House was provided with an assessment of 18 different proposals for central bank digital currency (CBDC) systems by the Office of Science and Technology Policy (OSTP).
As part of the technical review for a U.S. CBDC system, OSTP's preference for an off-ledger, hardware-protected system was underlined, along with the trade-offs associated with each design option.
