Stephen Diamond spoke with CNBC about a recent executive order by Governor Newsom on cryptocurrencies, laying out a road map for regulatory and consumer protections and examining ways California can take advantage of blockchain technologies and digital assets.

“Blockchain has been around for decades, it has never found a widespread adoption use case,” said Stephen Diamond, a law professor at Santa Clara University. “There’s a mania underway and for the state of California to come in and essentially say this has huge potential, to me, they’re feeding the mania.”