New Hampshire Takes a Big Step for Bitcoin
The New Hampshire House Commerce and Consumer Affairs Committee has voted 16-1 to support a bill that could help Bitcoin become a part of the state’s funds. This is a big deal because it means that more people are accepting Bitcoin as a real way to save and invest money. This is happening not just in New Hampshire, but in many other states too.
What the Bill Says
House Bill 302, which was introduced by Representative Keith Ammon and supported by both Republicans and Democrats, allows the state treasurer to put up to 5% of the state’s money into digital assets like Bitcoin. But there are some rules: the digital asset must be worth at least $500 billion on average over the past year, and it must be kept safe by a qualified custodian or in a regulated way.
Even though the bill doesn’t mention Bitcoin by name, it’s the only digital asset that meets these rules right now. The bill was changed from suggesting a 10% limit to a 5% limit, and it now excludes some types of digital assets called stablecoins and staking options.
Other States are Doing the Same
New Hampshire isn’t the only state thinking about this. Other states like North Carolina, Oklahoma, and Texas are also considering similar bills. Some states, like Utah and Arizona, have already passed laws about Bitcoin.
Even the former U.S. President, Donald Trump, suggested a plan called the Crypto Strategic Reserve, which would include Bitcoin and other cryptocurrencies.
A Big Step Forward
The vote in New Hampshire is a big step forward for Bitcoin. It shows that more people are accepting cryptocurrencies as real ways to save and invest money. As more states consider similar laws, we might see a big change in how governments think about digital assets. This could lead to a new way of saving and investing money that is more diverse and stronger.
—
Sources:
– cryptonews.com
– cointelegraph.com
– coinpaper.com
