Bill > S1267

This bill, the "Virtual Currency and Blockchain Regulation Act," provides a legal framework for the treatment of digital assets, including virtual currency, digital consumer assets, and digital securities. It establishes that open blockchain tokens meeting certain requirements are intangible personal property, requires notice filings for the sale of such tokens, and allows banks to provide custodial services for digital assets. The bill also creates a new type of limited liability company called a "decentralized autonomous organization" with specialized rules. Additionally, the bill provides a sales tax exemption for energy and utility service used in virtual currency creation and updates the Grow New Jersey Assistance Program to include virtual currency businesses as a targeted industry.

Business and Industry

https://www.njleg.state.nj.us/bill-search/2022/S1267