The New Jersey State Assembly’s Science, Innovation and Technology Committee on Monday approved four measures related to cryptocurrencies and blockchain technology, including some that would regulate transactions involving digital assets such as cryptocurrencies. Over the years, some lawmakers have pushed for regulation of cryptocurrencies and the blockchain technology that enables them.
This month, Congresswoman Yvonne Lopez reintroduced the Digital Assets and Blockchain Technology Act, which House Democrats said would provide transparency, consumer protection and a licensing structure for operators and consumers dealing in virtual currencies.
It will require people to apply for a license to conduct digital asset business with or on behalf of New Jersey residents. People convicted of fraud, embezzlement, forgery or theft within the past five years will be barred from obtaining a license.