Share this article
New Jersey Moves Closer to Crypto License With Introduction of Senate Bill
New Jersey has inched closer to implementing its own "BitLicense."
Updated Sep 14, 2021, 10:28 a.m. Published Nov 9, 2020, 8:55 a.m.
New Jersey has inched closer to implementing a cryptocurrency license similar to the "BitLicense" mandated in neighboring New York since 2015.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Sponsored by Sen. Nellie Pou (D.-35), a bill known as the "Digital Asset and Blockchain Technology Act" was introduced to the state Senate last Thursday.
- Senate bill 3132 seeks to regulate cryptocurrency service providers under the oversight of the N.J. Department of Banking and Insurance.
- The proposed law would require the issuance of a license for any entity looking to provide digital asset trading, storage, purchase, sales, exchange, borrowing/lending or issuance services.
- Those entities, including businesses and individuals, will not be able to conduct any business activity unless they have either obtained a license in New Jersey or have a reciprocal license in another state.
- Unlicensed entities operating in New Jersey could be on the hook for $500 a day until an application for a license is filed.
- The senate bill follows the introduction of same legislation to the state's General Assembly in February (where it's bill number A2891) and subsequent referral to the Assembly Appropriations Committee.
- A presence in both houses would appear to signal a high likelihood the bill could become law if signed by Gov. Phil Murphy, or at least is being taken seriously.
See also: New Jersey Lawmaker Wants to Create a Crypto License
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
XRP Faces Downside Risk as Social Sentiment Turns Wildly Negative
The turn in crowd mood comes after a two-month slide of roughly 31%, leaving the token vulnerable to further downside if risk appetite weakens across majors.
What to know:
- XRP's price approached the $2 mark as social sentiment around the token turned sharply negative, according to Santiment data.
- The token has experienced a 31% decline over two months, making it vulnerable to further losses if market risk appetite weakens.
- Santiment's sentiment model indicates XRP is in a 'fear zone,' where negative commentary significantly outweighs positive talk, potentially influencing market positioning.
Top Stories
