As was widely noted last week, California Governor Gavin Newsom issued a lengthy executive order with respect to blockchain technology. According to the Governor’s press release, the order aims to “aims to create a transparent regulatory and business environment for web3 companies which harmonizes federal and California approaches, balances the benefits and risks to consumers, and incorporates California values such as equity, inclusivity, and environmental protection”. In the order, the Governor has assigned a number of tasks to the Department of Financial Protection & Innovation. Among other things, the DFPI is required within the next 30 days to “solicit public comments regarding the regulation of crypto asset-related financial products and services under the CCFPL [California Consumer Financial Protection Law]. Somewhat more alarmingly for members of the industry, Governor Newsom has ordered the Department to “[i]nitiate enforcement actions as appropriate to stop violations of the CCFPL and other relevant consumer financial laws”. The Governor doesn’t identify any violators or what those violations of the CFPL might be.
Saturday Night In Old Eureka
This weekend, I had the pleasure of attending (as an observer, not a contestant) the Nevada State Old-Time Fiddler’s Contest in Eureka, Nevada. Eureka bills itself as the “friendliest town on the loneliest road in America” and I have to agree on both counts. The contest was held in the beautiful and historic Eureka Opera House, which is subject of this tune by Richard Elloyan.