{"id":495833,"date":"2022-09-25T10:45:00","date_gmt":"2022-09-25T07:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/california-gov-newsom-vetoes-crypto-licensing-and-regulatory-framework\/"},"modified":"2022-09-25T10:45:00","modified_gmt":"2022-09-25T07:45:00","slug":"california-gov-newsom-vetoes-crypto-licensing-and-regulatory-framework","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/california-gov-newsom-vetoes-crypto-licensing-and-regulatory-framework\/","title":{"rendered":"# California Gov. Newsom vetoes crypto licensing and regulatory framework"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4143a499900\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4143a499900\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/california-gov-newsom-vetoes-crypto-licensing-and-regulatory-framework\/#%E2%80%9D_California_Gov_Newsom_vetoes_crypto_licensing_and_regulatory_framework_%E2%80%9C\" >&#8221; California Gov. Newsom vetoes crypto licensing and regulatory framework &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_California_Gov_Newsom_vetoes_crypto_licensing_and_regulatory_framework_%E2%80%9C\"><\/span>&#8221; California Gov. Newsom vetoes crypto licensing and regulatory framework &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-6ebd806f>Adding to the existing regulatory hurdles for the crypto ecosystems, California Governor Gavin <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a>om refused to sign a bill that would establish a licensing and regulatory framework for digital assets.<\/p>\n<p>Assembly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/leginfo.legislature.ca.gov\/faces\/billNavClient.xhtml?bill_id=202120220AB2269\">Bill<\/a> 2269 sought to allow the issuance of operational licenses for crypto companies in California. On Sept. 1, California State Assembly passed the bill with no opposition from the assembly floor and went on to the governor\u2019s office for <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/bea1bf8c-5ec4-4dd0-a204-b8527b2a9831.png\"><figcaption style=\"text-align: center;\"><em>Letter of rejection from Gov. Mewsom. Source:\u00a0leginfo.legislature.ca.gov<\/em><\/figcaption><\/figure>\n<p>Opposing the notion, Newsom recommended a \u201cmore flexible approach\u201d that would evolve over time while considering the safety of consumers and related costs, adding:<\/p>\n<blockquote><p>\u201cIt is premature to lock a licensing structure in statute without considering both\u00a0this work (in-house efforts to create a transparent regulatory environment) and forthcoming federal actions.\u201d<\/p><\/blockquote>\n<p>The governor stated that the bill, in its current form, would require loaning \u201ctens of millions of dollars\u201d from the state\u2019s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> fund:<\/p>\n<blockquote><p>\u201cSuch a significant commitment of general fund resources should be considered and accounted for in the annual budget process.\u201d <\/p><\/blockquote>\n<p>Newsom highlighted that he waits for federal regulations to \u201ccome into sharper focus\u00a0for digital financial assets\u201d before working with the Legislature to establish crypto licensing initiatives.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Biden&#8217;s anemic crypto framework offered us nothing new<\/em><\/strong><\/p>\n<p>The Office of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/sciencee\/\" data-internallinksmanager029f6b8e52c=\"5\" title=\"Science\" target=\"_blank\" rel=\"noopener\">Science<\/a> and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> Policy (OSTP) submitted an analysis to the White House regarding design choices for 18 central bank digital currency (CBDC) systems for the United States.<\/p>\n<p>The technical evaluation for a U.S. CBDC system highlighted OSTP\u2019s inclination toward building an off-ledger, hardware-protected system while considering the various trade-offs inherited by each design choice.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/california-gov-newsom-vetoes-crypto-licensing-and-regulatory-framework\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; California Gov. Newsom vetoes crypto licensing and regulatory framework &#8220; Adding to the existing regulatory hurdles for the crypto ecosystems, California Governor Gavin Newsom refused to sign a bill that would establish a licensing and regulatory framework for digital assets. Assembly Bill 2269 sought to allow the issuance of operational licenses for crypto companies&#8230;<\/p>\n","protected":false},"author":1,"featured_media":495834,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvNDJhZWQ0OGItOWRmNS00ZmZlLWJmNGItNzdjMzgwMzYxNWM5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75269,74355,70301,13096,71511,70934,67874],"class_list":["post-495833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-us-government","tag-adoption","tag-bills","tag-california","tag-government","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/495833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=495833"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/495833\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/495834"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=495833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=495833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=495833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}