New Hampshire Welcomes Bitcoin: A Big Step Forward!
Get ready for some exciting news from New Hampshire! The state’s Bitcoin bill has just passed a super important committee with a whopping 16-1 vote[1][5]. This is a huge deal that could change the way money works in New Hampshire, and maybe even in other states too! Let’s find out more about this amazing development.
What’s in the Bill?
The bill was brought by a Republican named Keith Ammon, and two Democrats, Chris McAleer and Carry Spier, joined in to support it[1]. It lets the state treasurer invest up to 5% of the state’s money in something called ‘digital assets'[1]. Right now, the only digital asset that fits the bill’s rules is Bitcoin, because it’s worth a lot of money[1]. The bill also lets the state invest in precious metals like gold, silver, and platinum[1].
Some Changes Along the Way
At first, the bill wanted to invest 10% of the money, but it was changed to 5%[1]. The bill was also adjusted to not include something called ‘stablecoins’ and to not let the state ‘stake’ its investments[1]. This means the state will only buy digital assets that are held safely or turned into something that can be traded on an exchange[1].
What Does This Mean?
This bill makes New Hampshire one of the states that’s really interested in using cryptocurrencies in their finances. Other states like North Carolina, Oklahoma, and Texas are also thinking about doing the same thing[1]. If New Hampshire’s bill is successful, it could inspire more states to think about using cryptocurrencies too, which might lead to them being used more often in the U.S.!
What’s Happening Nationally?
The U.S. President even mentioned plans for something called a ‘Crypto Strategic Reserve’, which would include Bitcoin and other big cryptocurrencies[1]. This shows that people in important places are starting to think that cryptocurrencies are a good thing to invest in.
So, What’s Next?
Now that the bill has passed the committee, it’s going to the full House for a vote. If it’s approved, it could be a really big deal for New Hampshire and for the way we think about money. It could even start a new way of doing finance that uses technology to make things better!
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Sources:
– Cointelegraph
– The Automatic Earth
– ADVFN
