San Francisco and Silicon Valley are leading the call for new crypto transparency and stable assets. “There has to be a distinction between non-asset backed crypto, the traditional crypto that’s collapsing now, and asset-backed crypto.”
in November. In early May, California Gov. Gavin Newsom also released an executive order calling for crypto regulation.
“For anyone investing in crypto, it’s important to consider its utility and the role that your particular investment is playing both in Silicon Valley and beyond,” Rios says. “If California wants to continue to be the leader in technology and innovation, we should find ways to encourage crypto’s functionality and role in the global economy.”
Moe Vela, another director of the company, was director of administration for President Obama, where he worked closely with Biden. Vela also worked with Vice President Al Gore in the Clinton White House.
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