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California moves to embrace cryptocurrency and regulate it

FILE — California Gov. Gavin Newsom speaks during a news conference in Sacramento, Calif., on Jan. 10, 2022. California on Wednesday, May 4, 2022, became the first state to formally begin examining how to adapt to cryptocurrency and related technologies, following in the path laid out by President Joe Biden in March. Gov. Gavin Newsom signed an executive order for California agencies to move in tandem with the federal government to craft regulations for digital currencies. (AP Photo/Rich Pedroncelli) FILE - An advertisement for Bitcoin cryptocurrency is displayed on a street in Hong Kong, on Feb. 17, 2022. California on Wednesday, May 4, 2022, became the first state to formally begin examining how to adapt to cryptocurrency and related technologies, following in the path laid out by President Joe Biden in March. (AP Photo/Kin Cheung, File) FILE - In this Feb. 9, 2021, photo, the Bitcoin logo appears on the display screen of a cryptocurrency ATM at a store in Salem, N.H. California on Wednesday, May 4, 2022, became the first state to formally begin examining how to adapt to cryptocurrency and related technologies, following in the path laid out by President Joe Biden in March. (AP Photo/Charles Krupa, File)