Country of Jersey Releases New Bitcoin Regulation Framework
Although you may never have heard of it, a small country of just 100,000 people sits between England and France called Jersey. The island is just 45 square miles and attracts many startups and successful companies to its shores. Leading the way for Fintech in Europe, Jersey has begun to take on its own challenge of Bitcoin regulation. The Government of....
Related News
Following U.S. President Biden’s executive order, the White House published a framework for CBDC development and strict regulation of the ecosystem.
Jersey is an island off of the coast of Normandy with a self-governing government but still autonomously attached to the United Kingdom. Much like the Isle of Man, Jersey has been seen as one of the safe havens for digital currencies. It has led a lot of people working on financial and technological innovation to settle their business there. The island is interested in securing its future in the emerging world of digital currency and how it could benefit their community. By taking this in mind, the Island government is pushing forward with plans to regulate and establish legislation for....
In contrast to proposed regulation that typically make it more difficult for bitcoin startups to thrive, a bill in New Jersey might wind up favoring these companies. As proposed by two members of the assembly, tax and regulatory breaks could be granted to cryptocurrency companies operating in the state. In particular, Assemblyman Rai Mukherji and Assemblyman Gordon Johnson pointed out that bitcoin startups should be encouraged to run operations since these could trim joblessness in the state. They drafted a 30-page bill to create a regulatory framework for the industry as well. Benefits....
With a new Senate bill on the table, New Jersey is getting closer to introducing a state-level licensing framework for crypto firms. The New Jersey Senate is set to consider a new bill that proposes the creation of a new, mandatory licensing framework for all cryptocurrency firms operating in the state.Introduced on Nov. 5, the new Senate bill, or "Digital Asset and Blockchain Technology Act," has been sponsored by the Democratic Party senator for New Jersey's 35th Legislative District, Nellie Pou. S3132 is now pending a referral to the Senate Commerce Committee. The Senate bill follows....
The draft text of the Digital Currency Jobs Creation Act is now available. Two New Jersey legislators have introduced a Digital Currency Jobs Creation Act that calls for tax breaks for bitcoin businesses. The bill is being sponsored by State Assemblyman Raj Mukherji and State Assemblyman Gordon M Johnson. According to a report by the New Jersey Star-Ledger, the 30-page proposal would, if passed, establish a regulatory framework and set in place tax breaks for New Jersey companies that work with digital currencies. "I want to encourage innovation here in New Jersey. I think there's an....