Tax breaks for Bitcoin businesses proposed by N.J. lawmakers

Regulation | May 29, 2015 By:

Two New Jersey lawmakers recently proposed a Digital Currency Jobs Creation Act that would create a regulatory framework for the companies that deal in digital currency and offer tax breaks to companies that service or exchange it.

The 30-page bill is being sponsored by State Assemblyman Raj Mukherji and State Assemblyman Gordon Johnson.

Raj Mukherji, New Jersey State Assemblyman, said “I want to encourage innovation here in New Jersey. I think there’s an opportunity for job creation.”

The draft text of the bill is currently unavailable for public viewing on the state legislature’s website. However, the landing page for the Digital Currency Jobs Creation Act, or A4478, can be found alongside the bill’s two primary sponsors.