Gavin Newsom News

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.

California Governor Gavin Newsom has vetoed a bill that sought to license and regulate crypto. Assembly Bill 2269 was introduced by AssemblyMan Timothy Grayson. However, the bill was subjected to heavy criticism by the crypto community.

crypto tokens as traded in a narrow band around $20,000the entire week, the longest stretch that it has dipped under that level since the market was rocked by turmoil in July. Investors continue to debate the implications of rising borrowing rates for riskier assets after the Fed Chair's hawkish commentary. Bitcoin is down roughly 60% this year and some other tokens have lost even more. Other cryptocurrencies including Polkadot and Dogecoin also declined. However, Ether was surging in anticipation of a groundbreaking software upgrade to its blockchain. Here's a weekly roundup of all the noteworthy stories from the crypto space:1. Meta rolls out NFT feature on Instagram and Facebook Users of Instagram and Facebook can now display their NFTs on the platform, according to a recent announcement from Meta.

Lawmakers in California State Assembly 71-0 passed the Digital Financial Assets Law, also known as AB 2269, on Tuesday, Aug. 30. The bill is now in the hands of the state’s governor Gavin Newsom, who will either set it into motion or veto it completely. 

Gavin Newsom, the governor of California, has signed an executive order aimed at harmonizing a regulatory framework for blockchain between the federal government and the U.S. state as well as spurring innovation in the space.