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A4   U.S. NEWS
                      Thursday 5 May 2022
            California moves to embrace cryptocurrency and regulate it




            By DON THOMPSON                                                                                                     for  government  services  in
            Associated Press                                                                                                    2018,  though  the  program
            SACRAMENTO,  Calif.  (AP)                                                                                           was soon discontinued be-
            —  California,  which  would                                                                                        cause few people used it.
            have  the  world's  fifth-larg-                                                                                     Colorado  Gov.  Jared  Po-
            est  economy  if  it  was  a                                                                                        lis,  also  a  Democrat,  said
            country,  on  Wednesday                                                                                             in  February  that  his  state
            became  the  first  U.S.  state                                                                                     would  begin  accepting
            to  formally  begin  examin-                                                                                        cryptocurrency for govern-
            ing  how  to  broadly  adapt                                                                                        ment services later this year.
            to  cryptocurrency  and  re-                                                                                        California  lawmakers  are
            lated innovations, following                                                                                        among  many  around  the
            a path laid out by President                                                                                        the  U.S.  who  have  offered
            Joe Biden in March.                                                                                                 related legislation. But a bill
            Gov.     Gavin    Newsom                                                                                            by Democratic Sen. Sydney
            signed  an  executive  order                                                                                        Kamlager  to  allow  Califor-
            for state agencies to move                                                                                          nia to accept crypto assets
            in tandem with the federal                                                                                          for  state  services  failed  in
            government  to  craft  regu-                                                                                        its first committee this year
            lations  for  digital  curren-                                                                                      and a similar bill by Repub-
            cies. It also calls for officials                                                                                   lican Assemblyman Jordan
            to  explore  incorporating                                                                                          Cunningham is stalled.
            broader  blockchain  com-                                                                                           Similar   measures   have
            puter coding into the gov-   In this Feb. 9, 2021, photo, the Bitcoin logo appears on the display screen of a cryptocurrency ATM   been  introduced  in  Ari-
            ernment  operations  of  the   at a store in Salem, N.H.                                           Associated Press  zona,  Wyoming  and  other
            state  where  much  of  the                                                                                         states.
            world's technological inno-  should  be  out  front  in  fig-  latory and business environ-  records.  The  records  are  Despite  the  potential  pit-
            vation is born.              uring out how to adapt to  ment for crypto assets."       held  on  many  computers  falls   of   cryptocurrency,
            Evolving  blockchain  and  new technologies.              Cryptocurrencies,    which  that together form a glob-    Newsom's  order  says  Cali-
            cryptocurrency     technol-  "Too often government lags  are built on blockchain da-   al  network  so  that  no  one  fornia should take the lead
            ogy "is potentially an explo-  behind  technological  ad-  tabase  technology,  have  and no institution can con-   in figuring out how to adapt
            sive creator of new compa-   vancements, so we're get-    exploded  in  popularity  in  trol  them.  There  is  heavy  to the technological evolu-
            nies and new jobs and new  ting ahead of the curve on  recent years. About 16% of  disagreement  about  the  tion.
            opportunities,"  said  Dee  this,  laying  the  foundation  U.S. adults have invested in,  legitimacy of cryptocurren-  His  order  builds  on  a  July
            Dee Myers, a senior advisor  to allow for consumers and  traded, or used cryptocur-    cy,  even  among  some  of  2020  report  by  the  Califor-
            to  Newsom  and  director  business  to  thrive,"  New-   rencies  and  the  percent-  the  world's  richest  people.  nia  Blockchain  Working
            of the Governor's Office of  som, a Democrat, said in a  age is much higher among  Elon  Musk  is  an  avid  sup-   Group,  which  examined
            Business and Economic De-    statement.                   younger  men.  Biden's  ex-  porter  of  dogecoin  while  the use of blockchain along
            velopment.                   California has about 39 mil-  ecutive  order  in  part  asks  Warren Buffet recently said  with its risks and benefits.
            "So there are a lot of oppor-  lion residents and its econ-  the Federal Reserve to con-  he wouldn't pay $25 for all  California  that  same  year
            tunities,"  she  said.  "There's  omy  is  more  than  $3.1  tril-  sider whether it should cre-  of  the  world's  bitcoin,  the  created  a  new  Depart-
            also  a  lot  of  unknowns  in  lion, larger on its own as a  ate its own digital currency.  most popular cryptocurren-  ment  of  Financial  Protec-
            the  industry  and  so  that's  U.S.  state  than  the  United  Blockchain creates the un-  cy. Each bitcoin is currently  tion  and  Innovation  from
            another reason we want to  Kingdom  and  India.  New-     derlying transparency of a  valued at about $38,000.      what had been the Depart-
            engage early."               som said his order is a step  decentralized  but  publicly  While California may be first  ment of Business Oversight,
            Newsom's  order  says  the  toward  making  it  the  na-  viewable ledger. The tech-   to try to develop a compre-  with  a  goal  of  evaluating
            state — home to Silicon Val-  tion's first state "to establish  nology can also be used to  hensive  approach,  Ohio  emerging  risks  and  oppor-
            ley and financial innovators  a comprehensive, thought-   record other types of infor-  was  the  first  to  attempt  to  tunities  while  protecting
            like  PayPal  and  Square  —  ful,  and  harmonized  regu-  mation,  such  as  property  accept  virtual  currency  consumers.q

                                                                      Satanic Temple asks Boston to fly flag


                                                                      after court ruling


                                                                      The  Salem-based  group  that  the  group  wants  to  Greaves said, but one likely
                                                                      tweeted  a  request  filed  show  that  religious  liberty  option  echoes  the  Ameri-
                                                                      Tuesday with the city prop-  must  mean  respect  for  "all  can  flag,  only  with  black
                                                                      erty  management  depart-    forms"  of  religious  practice  and  white  stripes  and  an
                                                                      ment  to  raise  a  flag  mark-  and religious opinion.   emblem  of  a  pentagram
                                                                      ing  "Satanic  Appreciation  "When  government  offi-     and goat skull where the 50
                                                                      Week" from July 23-29.       cials  are  able  to  impose  stars would be.
            The American flag, the Commonwealth of Massachusetts flag,   Mayor Michelle Wu's office  arbitrary   restrictions   on  The Satanic Temple is sep-
            and the City of Boston flag, from left, fly outside Boston City Hall,   declined  to  comment  on  claims of conscience, or to  arate  from  the  Church  of
            Monday, May 2, 2022, in Boston.                           the  group's  request  other  abridge  the  civic  capaci-  Satan, which was founded
                                                     Associated Press   than  to  say  it's  reviewing  ties of some based on their  in  the  1960s.  Founded  in
            By PHILIP MARCELO            Court  ruled  this  week  that  the  high  court's  decision  religious identity, we fail to  2013,  the  Satanic  Temple
             Associated Press            the  city  violated  the  free  while  also  evaluating  its  be  a  free,  democratic  re-  doesn't  believe  in  Satan
            BOSTON (AP) — The Satan-     speech  rights  of  a  conser-  flag-raising program.     public," he wrote in part.   and  describes  itself  as  a
            ic  Temple  is  requesting  to  vative activist seeking to fly  Lucien  Greaves,  the  orga-  The organization hasn't de-  "non-theistic religious orga-
            fly  a  flag  over  Boston  City  a Christian flag outside the  nization's  co-founder,  said  cided  which  of  its  official  nization"  that  advocates
            Hall after the U.S. Supreme  downtown building.           in  an  email  Wednesday  flags it will ask the city to fly,  for secularism.q
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