New Jersey Case Could Set Restrictive Precedent for Bitcoin Businesses
Though we have only hints at what regulation could result from last month's NYDFS hearing in New York, members of both sides largely agree the dialogue did much to improve relations between New York regulators and the bitcoin community. Despite the steps forward, however, recent actions taken by the state's southern neighbor New Jersey suggest that US law enforcement is going the extra mile to try and prevent any potential bitcoin threats, no matter how dubious. In a controversial move, the New Jersey Division of Consumer Affairs issued a subpoena this December against Jeremy Rubin, a....
Related News
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....
The island of Jersey is a pleasant, tranquil place known for its rocky beaches, soothing waves, and oh yeah… It’s loose tax regulations and growing Fintech arena. Over the past two years, arrays of financial and tech-related companies have looked to Jersey as a potential home thanks to its limited regulations regarding bitcoin and digital currencies, but all that is about to change. Presently, there are nearly two dozen established companies and businesses on the island of Jersey that accept bitcoin as a method of payment. Since October of last year, Jersey has expressed its desires to....
In March, CoinDesk reported on a legal spat between a team of MIT students led by Jeremy Rubin, and the State of New Jersey. Rubin's team had developed a software system called Tidbit that could allow websites to use visitors' computers to mine bitcoin. In return, the visitors would not see advertising. However, last December, the State of New Jersey issued a subpoena asking the team for details of its project, including the source code, addresses of bitcoin wallets associated with it, installation logs, and others. Now, a New Jersey judge is to decide whether the team of academics must....
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....
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....