New Hampshire Welcomes Bitcoin: A Big Step Forward!
Great news for Bitcoin lovers in New Hampshire! The state’s Bitcoin bill has just passed a very important vote, 16-1, in the House Commerce and Consumer Affairs Committee[1][5]. This is a huge step towards using Bitcoin in the state’s finance system, and it might inspire other states to do the same. Let’s find out more about this exciting development and what it means.
What’s in the Bill?
The bill was introduced by a Republican named Keith Ammon, and two Democrats, Chris McAleer and Carry Spier, helped him with it. It lets the state treasurer invest up to 5% of certain funds in digital assets, like Bitcoin, that have been worth at least $500 billion in the last year[1]. The treasurer must keep these investments safe and transparent, either with a special keeper or in a product that can be traded on an exchange[1].
Changes and Rules in the Bill
At first, the bill wanted to invest 10%, but it was changed to 5% to be more careful[1]. Also, the bill now doesn’t include stablecoins or the chance to make money from staking, which shows a more careful approach[1]. The current treasurer, Monica Mezzapelle, has said she wants to invest in these assets if the bill passes, which shows she’s ready to try new things in finance[1].
What Does This Mean for Other States and the Country?
New Hampshire is not alone in exploring the use of cryptocurrencies. Other 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 good investment opportunities instead of being skeptical about them.
What’s Happening at the Federal Level?
This is happening while the federal government is also paying more attention to cryptocurrencies. President Donald Trump even talked about making a Crypto Strategic Reserve that would include Bitcoin and other major cryptocurrencies[1]. This shows that the federal government is starting to recognize cryptocurrencies as valuable assets that can be used for important purposes.
Looking Ahead: A New Way to Innovate Financially
The passage of New Hampshire’s Bitcoin bill through the House committee 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 try new things with digital assets and make them part of mainstream finance.
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Sources:
– Cointelegraph
– ADVFN