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(Kitco News) - California Governor Gavin Newsom has vetoed a bill crafted to create a licensing and regulatory framework for cryptocurrency firms in the state, citing the need for a more flexible approach to “keep up with rapidly evolving technology and use cases” for digital assets.
The bill in question, AB 2269 – also known as the “Digital financial asset businesses: regulation” – was introduced by a California Assembly member earlier this year and passed in the Assembly and California State Senate at the end of August.
Under the bill, crypto companies wishing to serve California residents would be required to first receive a license to do so, and it would have also formally adopted new rules governing stablecoins. This includes a requirement that licensed companies only engage with bank-issued...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...