NH House Committee Approves Bitcoin Bill Unanimously

New Hampshire Takes a Big Step into the World of Bitcoin

Big news for New Hampshire! The state’s Bitcoin bill has just passed a very important vote in the House Commerce and Consumer Affairs Committee, with 16 people voting for it and only 1 against[1][5]. This is a huge step towards welcoming Bitcoin into the state’s financial system, and it might inspire other states to do the same. Let’s find out more about this exciting development.

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. The bill says that the state treasurer can put up to 5% of certain funds into digital assets that have been worth at least $500 billion in the past year[1]. Right now, Bitcoin is the only digital asset that meets this rule, so it’s the main focus of the bill. The investments have to be kept safe by a special company or in a form that can be traded on an exchange, to make sure they’re secure and easy to see[1].

Changes to the Bill

At first, the bill wanted to put 10% of the funds into these digital assets, but it was changed to 5% to make sure it’s done carefully[1]. Also, the bill was changed so it doesn’t include something called stablecoins and the chance to make more money by staking, which shows a more careful approach to investing in these digital assets[1]. The state treasurer, Monica Mezzapelle, has said she wants to invest in these assets if the bill passes, which shows she’s ready to try something new[1].

What Does This Mean for Other States and the Country?

New Hampshire is not the only state thinking about using cryptocurrencies in its financial system. States like North Carolina, Oklahoma, and Texas are also talking about similar bills[1]. This shows that governments are starting to see digital assets as something they can use in their financial plans instead of just being unsure 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 said the country should have a Crypto Strategic Reserve, which would include Bitcoin and other important cryptocurrencies[1]. This shows that people in charge are starting to think of cryptocurrencies as useful things to invest in and keep for the future.

New Hampshire’s Big Step into the Future of Money

The vote in New Hampshire is a really important moment for the state and for the country. As the bill goes to the full House for a vote, it shows that more and more people are ready to try new things with money and use digital assets as part of their financial plans.

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Sources:
– Cointelegraph
– ADVFN