A bill that would allow New Hampshire to invest a portion of its state funds in digital assets and precious metals advanced to a full Senate vote after the second committee was passed.
On April 23, House Bill 302 (HB 302) was reviewed on the Second Senate Committee and passed in a 4-1 vote.
The law, introduced in January, removed the New Hampshire House earlier this month with a vote in 192-179. It is now facing a vote of the entire Senate and, if approved, will require the Governor’s signature to be law.
When implemented, it will allow the New Hampshire Treasury to use 10% of the state’s general fund to invest in crypto with a market cap of more than $ 500 billion – a threshold currently identified only by Bitcoin (Btc).
Democratic representative opposes the Crypto Reserve Bill of New Hampshire
During a Debate before the entire vote of the houseDemocratic representative Terry Spahr argued that the bill was not required.
The lawmaker said it could break the future stockpile security of the state’s digital asset. Spahr argued that the State Treasurer already has the authority to manage investments without a bill.
Others said it could earn a good state return for its investment. Republican representative Jordan Ulery said the investments could be the state of a “huge amount of money.”
Related: US Federal Agencies to Report Crypto holders to Treasury on April 7
Bitcoin Laws, which monitors the development of digital asset law, Shut up New Hampshire also has two more blockchain -related bills that pass through its legislature.
HB 639 addresses the blockchain dispute resolution and regulations of frameworks, while HB 310 focuses on real-world asset tokenization and stablecoin use.
New Hampshire’s development came as Arizona pursued a more aggressive approach by exploring the creation of a strategic bitcoin reserve, aimed at becoming the first state of the United States to implement the policy.
https://www.youtube.com/watch?v=KQZhvt77xkw
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