New Jersey A1111 mandates the Department of Treasury to review and approve a blockchain-based digital payment platform for businesses without.

New Jersey A1111 requires the Department of Treasury to review and approve a blockchain-based digital payment platform for businesses lacking traditional financial services. This platform must provide cashless transactions, secure revenue conversion from virtual currency to U.S. dollars, and allow all transactions to be recorded on an immutable blockchain ledger. Businesses can only access the platform with state approval. The platform must facilitate regulatory compliance, allow state audits, and enable sales tax payments to local municipalities.

New Jersey A1111 mandates the Department of Treasury to review and approve a blockchain-based digital payment platform for businesses without.

New Jersey A1111 requires the Department of Treasury to review and approve a blockchain-based digital payment platform for businesses lacking traditional financial services. This platform must provide cashless transactions, secure revenue conversion from virtual currency to U.S. dollars, and allow all transactions to be recorded on an immutable blockchain ledger. Businesses can only access the platform with state approval. The platform must facilitate regulatory compliance, allow state audits, and enable sales tax payments to local municipalities.