New Jersey State Legislature to Hold Bitcoin Hearing
The New Jersey State Legislature is holding a public hearing on bitcoin and digital currency today. The Assembly Financial Institutions and Insurance Committee has invited select guests to testify to the applications, consumer protection risks and concerns, advantages and current US regulatory schemes related to digital currency use. 'Chairman [Craig J] Coughlin wanted to do a hearing on digital currency because he realized that the role of digital currency is expanding in society and felt that the legislature should consider how to ensure New Jersey is prepared to deal with that....
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Someone apparently told cryptocurrency to "go back to Jersey," and the advice seems to have been taken. The New Jersey State Legislature is slated to hold a hearing on digital currency. Among the topics to be discussed include safety and consumer protection, applications, the advantages of cryptocurrency and current regulation practices regarding usage. Assembly Democratic spokesman Tom Hester explains how the idea to hold the hearing first came about: "Chairman Coughlin wanted to do a hearing on digital currency because he realized that the role of digital currency is expanding in society....
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 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....
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....
Legislators gathered on Wednesday afternoon to hold a public hearing on a measure that would prohibit cannabis firms in the state of Washington from working with bitcoin. CoinDesk reported last week that SB 5264, a bill presented by two Washington state senators, would ban businesses working in the marijuana industry from both selling products for bitcoin as well as purchasing them with the digital currency. At the time, primary sponsor Sen. Ann Rivers said that the measure was intended to boost financial transparency to the state’s cannabis sector as part of an effort to “help move it out....