New Hampshire Takes a Big Step with Bitcoin
Great news for Bitcoin lovers in New Hampshire! The state’s Bitcoin bill just passed a big test with a 16-1 vote in the House Commerce and Consumer Affairs Committee[1][5]. This is a huge step towards using Bitcoin in the state’s finances, and it might inspire other states to do the same. Let’s find out more about this exciting development.
What’s in the Bill?
The bill, brought by Republican Keith Ammon and supported by Democrats Chris McAleer and Carry Spier, lets the state treasurer invest up to 5% of certain funds in digital assets. These assets must have been worth at least $500 billion on average over the past year[1]. Right now, only Bitcoin meets this rule, so it’s the main focus of the bill. The investments must be kept safe and transparent, either by a qualified custodian or in an exchange-traded product[1].
Important Changes and Rules
The bill originally suggested a 10% investment, but it was changed to 5% to make sure the state is being careful[1]. Also, the bill was updated to exclude stablecoins and the possibility of staking, showing a more cautious approach[1]. The current treasurer, Monica Mezzapelle, has said she’s interested in investing in these assets if the bill passes, showing she’s ready for this new financial adventure[1].
What Does This Mean for Other States and the Country?
New Hampshire isn’t alone in exploring the use of cryptocurrencies. States like North Carolina, Oklahoma, and Texas are also thinking about similar bills[1]. This shows that governments are starting to see digital assets as real investment opportunities instead of just being unsure about them.
What’s Happening at the Federal Level?
This news comes at a time when the federal government is also paying more attention to cryptocurrencies. President Donald Trump even talked about a Crypto Strategic Reserve that would include Bitcoin and other major cryptocurrurrencies[1]. This shows that the government is starting to see cryptocurrencies as real assets for investing and saving.
New Hampshire Opens the Door to Financial Innovation
The House committee’s vote to pass New Hampshire’s Bitcoin bill is a big deal. As the bill moves on for a full House vote, it shows that not only New Hampshire, but the whole country, is ready to embrace digital assets as part of regular finance.
—
Sources:
– Cointelegraph
– ADVFN