Yesterday the Governor of California, Gavin Newsom signed an Executive Order to encourage responsible innovation in the web3 sector.
According to the State, a quarter of U.S. blockchain startups are based in California, including the high profile cryptocurrency exchange Coinbase. A key driver seems to be ensuring that California remains the center of innovation in the United States. Wyoming has made legislative moves, and the Mayors of Miami and New York are trying to attract well-heeled blockchain startups.
“What we would not want to see is a situation where states are competing with one another to attract businesses by either lowering standards or providing incentives,” Timothy Massad, former Chair of the U.S. Commodity Futures Trading Commission, told CNBC.
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