The governor of California opposes stupid decisions, and vetoed the law on cryptocurrencies. This is good news for the cryptocurrency world as a whole, as it will prevent the adoption of laws that will be too punitive towards the sector.<\/p>\n
The power which he possesses and which he`s decided to use. We are talking about a law that was first discussed in May, and is now on its way to approval, with quite punitive measures for the world of stable coins, as well as for exchanges. For the latter, in fact, a local licensing system was provided, similar to banking, with even greater restrictions, and for the former, an obligation to work with reserves stored in banks for 100% of the issued tokens.<\/p>\n
Gavin Newsom, the governor, called the concerns premature, perhaps also in connection with possible legislation approval at the federal level, and then outlined his reasons more clearly at the National Assembly:<\/p>\n
\u201cA more flexible approach is needed to ensure that legal control keeps pace with technology that is changing as quickly as its use cases.\u00a0 For a law that needs to be adapted to the most appropriate tools to reduce harm to consumers.\u201d, \u2014 said Gavin Newsom.<\/p>\n
The opinion, which, thus, between the lines, accuses the regulatory framework of excessive fusion, with a crypto scenario that really continues to change at a very rapid pace. And with general regulation, which would certainly be wrong if it excessively referred to what is happening here and now.<\/p>\n
At the same time, there is a growing need for a clear regulatory framework in the United States, and exchanges hope that the legislative framework will allow the sector to develop without excessive penalties.<\/p>\n
Since there is very little time left before the midterm elections, and the topic of cryptocurrencies is becoming increasingly hot, we can expect new such interventions and growing public debate in the United States. A place of great importance both in terms of trading volumes and the informal leadership role it has always played in the financial sector.<\/p>\n
What happened in California is good news, which we hope will be accompanied by legislation at the federal level, which is broad, but leaves freedom of action for operators who want to offer services within the law. At the same time, MiCA may have a more «loose» final form.<\/p>\n","protected":false},"excerpt":{"rendered":"
The governor of California opposes stupid decisions, and vetoed the law on cryptocurrencies. This is good news for the cryptocurrency world as a whole, as it will prevent the adoption of laws that will be too punitive towards the sector. The power which he possesses and which he`s decided to use. We are talking about […]<\/p>\n","protected":false},"author":2,"featured_media":216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[78],"tags":[80],"class_list":["post-215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulation-of-cryptocurrencies","tag-regulation-of-cryptocurrencies"],"yoast_head":"\n