California Forms Tech Task Force With Ripple, Coinbase Participation

Key Points

1. The initiative, dubbed the 'California Breakthrough Project,' held its first meeting on June 6 at Ripple's San Francisco headquarters.

2. Key participants include blockchain-based payments firm Ripple, U.S. crypto exchange Coinbase, and crypto payments startup MoonPay.

3. Governor Newsom emphasized embracing progress for the benefit of all Californians, highlighting the state's proactive stance on crypto.

4. California's GDP of over $4 trillion makes it the world's fifth-largest economy, surpassing countries like the UK and India.

5. Industry leaders view the initiative as a step toward legitimizing crypto and integrating blockchain technology into government services.