Amp is described as the new digital collateral token offering instant, verifiable assurances for any kind of value transfer. Using Amp, networks like Flexa can quickly and irreversibly secure transactions for a wide variety of asset-related use cases.
The measure to be considered by the FPPC aims to adjust to the use and benefits of these new technologies, and comes on the heels of California Governor Gavin Newsom signing an executive order for state agencies to carefully evaluate cryptocurrencies and Blockchain.
La California Fair Political Practices Commission better known by its acronym in English as FPPC, is contemplating revising an old ban dating back to 2018, which prohibits cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. donations to fund state-level political campaigns.
FPPC contemplates repealing ban on crypto donations to political campaigns
As such, the FPPC scheduled to hold a meeting next Thursday, May 19, to discuss the appropriateness of cryptocurrency donations to fund political campaigns, so it considers drafting an amendment to lift the ban implemented in 2018.
Let’s take into account an account is essentially a whose purpose is to track the financial activities of a specific asset/ that it was precisely in that year the FPPC which voted to prohibit political financing with cryptocurrencies, due to concerns that donations could be used to circumvent the legal frameworks that apply to contributions, as well as the possibility that foreign organizations and individuals finance candidates for public office. The new review comes in an attempt by the agency to adjust to new market an area or arena, online or offline, in which commercial dealings are conducted. trends, and take advantage of the benefits offered by new technologies now that there is a greater interest in cryptocurrencies, said the director of communications of the entity, Jay Wierenga.
In addition to the above, Wierenga added:
“This has been on our radar since late last year. Crypto has grown in terms of usage and visibility since 2019. Therefore, the commission wants to review the issue and determine whether or not changes should be made.”
The official also clarified that the current ban has not affected federal candidates running for public office in California, but it has worked against those interested at the state and local level. He specifically cited the case of Aarika Rhodes, who asked her contributors to donate Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. to fund her campaign:
Our campaign has officially adopted Lighting for campaign contributions.⚡️
This revolutionary technology creates accessibility and looks towards the future. I am excited to provide this option a contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price. to our supporters across all 50 states. #Bitcoin
– Aarika for CA-32 ???? (@AarikaRhodes) November 30, 2021
California revises its approach to cryptocurrencies and Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies.
The move comes amid growing interest at the state level in assessing and harnessing the benefits of the crypto sector and Blockchain for various purposes.
Just earlier this month, the current governor of the state of California, Gavin Newsom, signed an executive order requesting several state agencies to closely study cryptocurrencies and networks. Blockchain , encouraging them to incorporate such technologies to improve their operational processes and enhance their services to residents.
Let’s keep in mind that the executive order signed by Newsom involves the Governor’s Office of Business and Economic Development, just so that it can work hand in hand with the Business, Consumer Services and Housing Agency as well as with the Financial Innovation Protection Department to jointly adopt a regulatory approach applicable to cryptocurrencies and their underlying technology.
This position is aligned with the executive order signed earlier this year by U.S. President Joe Biden, who asked government agencies to closely evaluate these technologies to propose a more comprehensive approach, considering them a priority aspect in the face of the boom they have been having in local and international markets.
Returning to California, the order signed by Newsom states that, within 60 days after government agencies submit their recommendations to President Biden on the issue, the agencies in California must do the same with the governor to provide guidance on the regulatory approach that could be applied at the state level. Issues of energy consumption, environmental impact and prevention of illegal activities were prioritized within the issue.
- California Governor signs executive order for state agencies to closely study blockchain and cryptocurrencies
- U.S. Federal Reserve Orders Another Half-Percentage-Point Hike in Interest Rates
- U.S. Treasury Secretary Janet Yellen says UST and USDT declines are not a risk to the country
Source: Cointelegraph , Archive DiarioBitcoin
Version by Angel Di Matteo / DiarioBitcoin
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