Posted 12/5/2023, 7:26:00 PM
New Jersey Bill Seeks to Regulate Some Crypto as Securities for Institutional Investors
- New Jersey bill would classify crypto sold to institutional investors as securities, supplementing existing securities law
- Applies only to institutional investors, defined as companies/organizations investing on others' behalf
- Would not impact federal SEC regulations, only applies to transactions governed by NJ law
- Two other pending NJ bills provide regulation for consumer digital assets and blockchain technology
- Bill awaits consideration by the NJ General Assembly; office of Assemblymember who introduced it declined comment