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New Jersey Weighs New Legislation Placing Strict Licensing Requirements On Crypto Businesses
Summary: New Jersey lawmakers are looking into a bill which would regulate businesses working in the crypto and blockchain space, according to the state's website. The Digital Asset and Blockchain Technology Act would require businesses in the crypto space to receive a license from the Department of Banking and Insurance. Violators would be fined up to $500 per ...
New Jersey lawmakers are looking into a bill which would regulate businesses working in the crypto and blockchain space, according to the state's website.
The Digital Asset and Blockchain Technology Act would require businesses in the crypto space to receive a license from the Department of Banking and Insurance. Violators would be fined up to $500 per day.
The proposed law also mandates new regulations for crypto businesses to protect the interest of consumers in the industry, for example highlighting the risks involved in cryptocurrency investments.
By Emily Mason
Tags: Bitcoin,Blockchain,BTC,Crypto Industry,Cryptocurrency,Digital Assets,New Jersey,Regulation
Link: New Jersey Weighs New Legislation Placing Strict Licensing Requirements On Crypto Businesses [Copy]
