Crypto Regulation: California Kills Key Crypto Bill, Here's Why

California Governor Gavin Newsom vetoes Assembly Bill 2269 – a crypto oversight bill. The bill would have required crypto businesses and exchanges to acquire a special license from the California Department of Financial Protection and Innovation. The bill passed both the assembly(with a 71-0 vote) and the state senate. However, Newsom, who had until 30th September to make a decision, vetoed the bill.