New Hampshire Bitcoin reserve bill heads to full Senate vote

A measure that would let New Hampshire to put a information of its authorities funds successful integer assets and precious metals has precocious to a afloat Senate ballot aft passing a 2nd committee.

On April 23, House Bill 302 (HB 302) was reviewed successful the 2nd Senate committee and passed successful a 4-1 vote.

The legislation, introduced successful January, cleared the New Hampshire House earlier this period successful a 192–179 vote. It present faces a ballot by the afloat Senate and, if approved, volition necessitate the governor’s signature to go law.

Once enacted, it would let the New Hampshire treasury to usage 10% of the state’s wide funds to put successful crypto with a marketplace headdress of implicit $500 cardinal — a threshold presently met lone by Bitcoin (BTC).

Source: Bitcoin Laws

Democratic typical opposes New Hampshire’s crypto reserve bill  

During a debate earlier the afloat House vote, Democratic Representative Terry Spahr argued that the measure is unnecessary. 

The lawmaker said it could undermine the aboriginal information of the state’s integer plus stockpile. Spahr argued that the authorities treasurer already has the authorization to negociate investments without the bill.

Others said that it could gain the authorities bully returns for its investment. Republican Representative Jordan Ulery said the investments could nett the authorities a “large magnitude of money.”

Related: US national agencies to study crypto holdings to Treasury by April 7

Bitcoin Laws, which tracks the advancement of integer plus legislation, shows that New Hampshire besides has 2 much blockchain-related bills going done its legislature. 

HB 639 addresses blockchain quality solution and regulatory frameworks, portion HB 310 focuses connected real-world plus tokenization and stablecoin usage.

New Hampshire’s advancement comes arsenic Arizona pursues a much assertive attack by exploring the instauration of a strategical Bitcoin reserve, aiming to go the archetypal US authorities to instrumentality the policy.

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