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New Jersey: Assemblyman Proposes Bill to Regulate Digital Assets as Securities
A new bill in New Jersey aims to regulate digital assets and virtual currencies as securities. The bill, introduced by Democratic Assemblymember Herb Conaway, Jr., specifies the conditions under which a digital asset would be considered a security under state law.
According to the proposal, all virtual currencies issued and sold to institutional investors should be treated as securities. The bill goes further to define institutional investors as “companies or organizations that invest money on behalf of other people”. 
Additionally, the proposal also gives the state’s Bureau of Securities the authority to classify stablecoins as virtual currencies. The bill would amend the New Jersey Uniform Securities Law, which does not address virtual or digital currency or cryptocurrency. Importantly, the bill, if passed, will only affect transactions within the state.
Bill to Regulate Digital Assets a

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