Legislators to Introduce Pro-Bitcoin Bill in New Jersey
In New Jersey, two legislators have brought a bill to the state legislature (A4478) that will create a regulatory framework for Bitcoin-related companies. Both the legislators and some in the Bitcoin community have touted the bill as a positive step towards bringing the cryptocurrency to the mainstream. A4478, alternatively titled the “Digital Currency Jobs Creation Act,” was introduced with the purpose of helping to create jobs within the state. The bill aims to achieve this goal by giving tax breaks to Bitcoin related companies located within New Jersey who reach a certain job creation....
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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....
A new bill by proposed by two New Jersey assemblymen could mean tax and regulatory breaks for digital currency companies operating in the state. According to The Star-Ledger, the bill would lessen burdens for cryptocurrency companies in an attempt to incentivize job creation in the state. Proposed by Assemblyman Rai Mukherji (D-Hudson) and Assemblyman Gordon Johnson (D-Bergen), the 30-page bill would create a regulatory framework for digital currency companies to operate within as well. The bill comes two months after New Jersey's Assembly Financial Institutions and Insurance committee....
Coin Center's Executive Director Jerry Brito (on right) was among the nine participants who addressed the New Jersey Legislature's Financial Institutions on questions related to Bitcoin. In the end, the Bitcoin lobbyist unquestionably made some progress when it came to informing lawmakers about the cryptocurrency and its wider applications in the world. The aforesaid hearing was held to ensure the protection of Bitcoin consumers, especially in times when the market has just suffered a price crash and a few highly publicized hacking incidents. Legislators, during the entire Q&A round, were....
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....
A group of nine business owners and legal experts pitched a panel of New Jersey legislators this week on why they should make the Garden State a hub for bitcoin development. To get there, the panel urged, would require creating an environment in which digital currency developers, startups and ideas could flourish without the risk of onerous financial rules stifling innovation. The 5th February hearing was hosted by the New Jersey Legislature's Assembly Financial Institutions and Insurance Committee. Among the topics discussed were the multi-signature wallet technology, the nature of....