New Jersey launched project to regulate cryptocurrencies
State legislators will seek that companies acquire a license to operate with digital assets
The New Jersey group of lawmakers introduced a bill that will seek to regulate cryptocurrencies.
If this proposal is approved, companies related to digital assets should have to receive a special license to be able to offer legal services of this style.
This new proposal, baptized as the Law of Digital Assets and Blockchain Technology, was presented on February 20 by Assembly member Yvonne López. This introduces a series of requirements for companies in the sector to operate freely. Among others: the obligation of cryptocurrency companies to enter a registration control and the creation of protections for users.
This State does not have legislation on cryptocurrencies, so all the companies that operate there were doing so without a license, and they were judged according to Federal laws.
Lopez said it is necessary to have local regulations: “People see and hear about bitcoin every day. However, most people are not very sure of what it really is. We must take measures to protect the consumers who want invest in cryptocurrencies and at the same time allow the sector to continue to develop and expand in New Jersey.”