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Los Angeles Times

New California Laws Will Impose Sweeping Obligations on Coinbase

Bill Impacts Cryptocurrency Platforms

On October 13, 2023, California Governor Gavin Newsom signed two bills into law that will impose sweeping obligations on Coinbase, an online digital currency platform. The bills, AB 2269 and AB 2270, are part of a broader effort by the state to regulate the cryptocurrency industry.

Executive Order N-9-22

In addition to the two bills, Newsom also signed Executive Order N-9-22, which directs state agencies to move in tandem with the federal government to create a comprehensive regulatory approach for cryptocurrency.

Coinbase's Response

Coinbase has not yet commented on the new laws but is expected to issue a statement soon.

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