Hogan Lovells | Digital Assets and Blockchain Hub

Digital Assets and Blockchain Hub

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U.S. New Jersey: Legal and regulatory developments

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2019

August 2019	State of New Jersey

Governor signed S2297 and A5111 into law, establishing the New Jersey Blockchain Initiative Task Force and creating the Innovation District Designation Program.

The task force will study blockchain technology, including:

opportunities and risks associated with using blockchain and distributed ledger technology;
types of blockchains, both public and private, as well as consensus algorithms;
projects and use cases currently under development in other states and nations, and how those cases could be applied in New Jersey; and
how the Legislature can modify current State laws to support secure, paperless recordkeeping.

March 2019	State of New Jersey

The State of New Jersey introduced an Act creating the New Jersey Blockchain Initiative Task Force to study if State, county, and municipal governments can benefit from a transition to a blockchain-based system for recordkeeping and service delivery.