According to reports reaching oyogist.com, the New Jersey State Assembly’s Science, Innovation and Technology Committee on Monday approved four measures related to cryptocurrencies and blockchain technology.
This includes some that would regulate transactions involving digital assets such as cryptocurrencies.
Over the past few years, several lawmakers in the state have pushed for regulation of cryptocurrencies and blockchain technology that would enable them perform transactions without hindrances.
Earlier this month, Congresswoman Yvonne Lopez re-introduced the Digital Assets and Blockchain Technology Bill.
House Democrats said the bill would “provide transparency, consumer protections, and a licensing structure for both operators and consumers engaging in virtual currency transactions.”
It will require people to apply for a license to conduct digital asset business with or on behalf of New Jersey residents.
Meanwhile, people convicted of fraud, embezzlement, forgery or theft within the past five years will be barred from obtaining a license.
