KEY POINTS
  • Gov. Newsom's executive order on blockchain aligns with the Biden administration proposal in March.
  • The directive spells out a road map on regulatory and consumer protections.
  • The governor is calling on California to examine using blockchain solutions in state operations.
California Governor Gavin Newsom speaks at a press conference in Oakland, California, on Wednesday, on Feb. 9, 2022.

Tech investors and businesses in California have been betting on crypto for well over a decade. Now, the governor of the U.S. state with the largest economy is joining the party.

California Gov. Gavin Newsom issued an executive order Wednesday on cryptocurrencies, laying out a road map for regulatory and consumer protections and examining ways the state can take advantage of blockchain technologies and digital assets.