"Virtual Currency and Blockchain Regulation Act."
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
The Virtual Currency and Blockchain Regulation Act establishes a regulatory framework for virtual currency and blockchain activities in New Jersey. It defines key terms like ‘digital asset,’ ‘open blockchain token,’ and ‘facilitator,’ and outlines requirements for developers and sellers of open blockchain tokens, including filing notices and preventing fraudulent sales. The bill also addresses custodial services for digital assets offered by banks and clarifies the classification of digital assets as either consumer assets, securities, or virtual currency. Finally, it amends existing licensing requirements for money transmitters to account for these new digital assets.
Bill text
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Document of record
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Sponsors
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2 on record
Primary sponsors
Robert Singer
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