A new Jersey lawmaker has introduced a bill that would allow cryptocurrency companies to obtain licenses. The bill is intended to strengthen consumer protection.
According to a document called the “blockchain and digital assets Act”, if a company plans to provide services related to cryptocurrencies in the state of new Jersey, it will need to obtain the appropriate license.
To do this, the company must provide its name registered with the relevant services, trade and advertising marks, licensing history and work in other countries, as well as regulations on countering money laundering and terrorist financing.
Also, companies operating in new Jersey must publish their internal documents, including the status of working with state regulators, a document on commissions and information about potential risks of trading in the cryptocurrency market.
Recall that last year, the state regulator banned the work of two ICO projects Zoptax and UNOcall.