"Virtual Currency and Blockchain Regulation Act."

This bill establishes a regulatory framework for digital tokens in New Jersey, specifically targeting "open blockchain tokens" and virtual currency. It requires developers and sellers to file notices with the Department of Banking and Insurance ($1,000 fee) before offering tokens, and sets strict criteria for tokens to be classified as "consumptive" (for personal use like buying goods/services) rather than investment vehicles. Facilitators reselling tokens must verify compliance and stop sales if tokens fail to meet the consumptive standards. Violations could trigger penalties under existing banking laws. The bill directly affects token creators, sellers, and resellers operating in New Jersey.