the staff of the Ridgewood blog
Hackensack NJ, Carlos Iván Merino, Executive Director of the New Jersey Innovation & Technology Alliance (NJITA), recently traveled to Washington, D.C., as part of a national effort to advocate for regulatory clarity on blockchain and digital assets. During his fly-in visit, Merino met with key lawmakers from New Jersey and New York to emphasize the need for clear federal rules to support Web3 innovation.
Regulatory Clarity Is Key to Blockchain Growth
“The region’s talent pool, investment climate, and legacy of innovation make New Jersey and New York uniquely positioned to lead the Web3 revolution,” said Merino. “We need clarity, not confusion, to keep this industry growing.”
Merino’s message was simple: Without a structured regulatory framework, the U.S. risks falling behind in the global blockchain race. He stressed that innovation is being stifled by uncertainty and inconsistent enforcement practices.
Meetings With Key Lawmakers From NJ & NY
During the visit, Merino held strategic meetings with congressional offices representing key innovation hubs in the tri-state area:
-
Rep. Herb Conaway (NJ-3)
-
Rep. LaMonica McIver (NJ-10)
-
Rep. Grace Meng (NY-6)
-
Rep. Nydia Velázquez (NY-7)
-
Rep. George Latimer (NY-16)
-
Rep. John Mannion (NY-22)
The meetings were part of a coordinated effort led by Stand With Crypto, a national grassroots initiative that mobilizes blockchain developers and digital asset holders to push for common-sense crypto regulation.
Supporting the GENIUS Act and Pro-Innovation Policies
NJITA voiced strong support for the GENIUS Act, legislation designed to:
-
Define digital assets with clarity
-
Offer regulatory predictability
-
Enable developers to build confidently in the U.S.
Merino also outlined NJITA’s policy priorities, including:
-
🔹 Consistent rules across federal agencies
-
🔹 Enforcement focused on bad actors — not on the technology
-
🔹 Protection for open-source, decentralized tools
-
🔹 Regulatory guidance before enforcement actions are taken
New Jersey’s Web3 Ecosystem at Risk
New Jersey is home to hundreds of blockchain startups and has attracted billions in private investment, but Merino warned that this growth is at risk. Without updated federal guidance, local innovators may look overseas for more predictable regulatory environments.
“Blockchain companies are already making an impact on the tri-state area’s world-leading innovation ecosystem,” Merino said. “The right policies will ensure they succeed and continue to lead globally.”
NJITA: Championing Responsible Blockchain Innovation
The New Jersey Innovation & Technology Alliance remains committed to working with policymakers to:
-
Protect consumers
-
Support responsible innovation
-
Keep the U.S. competitive in emerging technologies
As blockchain, digital assets, and Web3 technologies evolve, NJITA believes that smart regulation—not overreach—is the path forward.
Gusto is a payroll and HR software that helps you pay your team, file taxes, offer benefits, and more. See how Gusto compares to other providers, get a free trial, and learn how to switch to Gusto in minutes.
https://gusto.com/i/james3539
