Munzir HakimiTable of Contents
Fresh Developments
New HampshireS Bitcoin bill is making waves as it heads to a full House vote after receiving overwhelming support from the House Commerce and Consumer Affairs Committee. The bill, known as House Bill 302, passed with a remarkable 16-1 vote on March 5, positioning New Hampshire among several states exploring Bitcoin reserves.
Key Highlights of the Bill
- Investment Prospect: If approved, the bill allows New Hampshire’s treasurer to invest up to 5% of certain state funds into digital assets that meet specific criteria.
- Bitcoin Eligibility: While not explicitly named in the legislation, only digital assets with an average market cap of $500 billion qualify—making Bitcoin the sole contender at this time.
the committee session revealed that any acquired digital asset must be managed by a qualified custodian or through an exchange-traded product. Additionally, investments in precious metals like gold and silver are also authorized under this bill.
Legislative Context
Introduced by Republican Keith Ammon on January 10 and co-sponsored by Democrats Chris McAleer and Carry Spier, this initiative reflects growing interest in cryptocurrency at state levels. The original proposal allowed for a higher investment percentage but was amended down to ensure cautious financial management.
As New hampshire joins other states like North Carolina and Texas awaiting full votes on similar bills, regulatory momentum continues amid broader discussions about national crypto strategies led by figures such as former President Donald Trump.
Final Thoughts
The passage of New Hampshire’s Bitcoin reserve bill marks a notable step towards integrating cryptocurrency into state financial frameworks. As more states consider similar measures, we may witness transformative changes in how public funds are managed across the U.S.
Reference
- Cointelegraph – New Hampshire’s Bitcoin Reserve Bill Passes Committee
- Bitcoin Laws – Race for Strategic Bitcoin Reserves
