Disruption

Newsom signs crypto regulation bills

Newsom had vetoed similar legislation last year.
California Gov. Gavin Newsom at a press conference Tuesday, April 25, 2023, in Corcoran, Calif. (AP Photo/Marcio Jose Sanchez)

California Gov. Gavin Newsom (D) on Friday signed into law a pair of measures aimed at placing guardrails on the cryptocurrency industry after a year of high-profile failures and devaluations rattled the nascent marketplace.

The new laws promise to catapult California into league with New York as the states with the strictest regulations on cryptocurrency markets.

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