California and Hawaii to develop crypto initiatives

California and Hawaii to develop crypto initiatives

Two more American states are about to jump on a crypto train.

Already worldwide leader in technology and innovation, California is set to create a comprehensive crypto legislation, as per its governor Gavin Newsom’s Executive Order signed yesterday.

The EO instructs state agencies to create a “transparent and consistent business environment for companies operating in blockchain”, open public consultations, consider deploying blockchain for public-serving needs and creating blockchain and crypto innovation hubs.

Governor Newsome added that “too often government lags behind technological advancements, so we’re getting ahead of the curve on this, laying the foundation to allow for consumers and business to thrive.”

We do not wish to break the magic of political marketing, but California is already one of the high places for the crypto industry and home to such famous companies as Kraken, Celo, BitGo, Compound, MakerDAO… Its government setting up crypto goals in 2022 is at least 5 years late ?

It’s better late than never, though, and introducing comprehensive legal framework would help California develop the existing companies and attract new ones.

Another state not willing to miss out on the crypto trend is Hawaii. It will create a task force charged with producing a roadmap “to boost blockchain usage in both the private and public sectors”.

Unlike California, Hawaii is yet to prove its innovative tech force, and maybe crypto could be a way to do it.

Both states should better hurry, as other places in the US have been deploying significant means to attract crypto businesses for quite some time already: Florida, Texas, Wyoming…

The competition starts heating up, and that’s a good thing ?