By Bill Wichert (June 2, 2022, 4:49 PM EDT) — Two bills aimed at creating ground rules for the cryptocurrency industry in New Jersey cleared a state Assembly committee Thursday, with a sponsor hailing a proposed licensing system as a potential national model while other lawmakers questioned the lack of testimony about setting up a regulatory framework.
The Assembly Financial Institutions and Insurance Committee advanced A.B. 2371, known as the Digital Asset and Blockchain Technology Act, which would require licenses for digital asset business activities, and A.B. 1975, known as the Virtual Currency and Blockchain Regulation Act, which would establish a framework for virtual currency businesses.
In urging her fellow committee…
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