New Hampshire has established America’s first strategic Bitcoin reserve law of America and has set up a framework to allocate part of the state funds to Bitcoin (BTC) and digital assets.
Governor Kelly Ayotte signed HB 302 in the law on 6 May and authorized the State treasurer to keep Bitcoin in a regulated reserve structure. The model policy, developed by the non -profit organization Satoshi Action Fund, aims to formalize the use of Bitcoin as a financial reserve -resistant for national governments.
The legislation, introduced by Rep. Keith Ammon (R-Hillsborough 40), was initially proposed in 2022 and was hired with the support of majority leader Jason Osborne, the New Hampshire Blockchain Council and other local lawyers.
The law enables the treasurer to buy Bitcoin and other digital assets with a market capitalization of more than $ 500 billion, which currently only includes Bitcoin.
Holdings are off to 5% of the reserve portfolio of the State and the US regulated guardianship schemes must secure this.
Ayotte confirmed The law signs on social media and says:
“New Hampshire is again first in the nation! Just signed a new law with which our state can invest in cryptocurrency and precious metals.”
The Republicans of New Hampshire House repeated the comments of the governor, post That “the living or that is first in front of forging the future of trade and digital assets.”
A schedule with multiple signatures, a qualified custodian or a exchange -handed product that is controlled by the State, will contain the assets, which ensures compliance and transparency. The status takes effect 60 days after determination.
Dennis Porter, CEO of Satoshi Action Fund, also issued a statement, in which HB 302 described as a blueprint for national adoption.
Growing movement
With this approval, New Hampshire becomes the first US state to determine legislation that draws up a strategic Bitcoin reserve.
According to Bitcoin laws facts37 of the 50 states have introduced similar legislative proposals, but most proposals have been shaking so far. The remaining 13 states must still submit legislation with regard to Bitcoin reserves at state level.
Satoshi Action Fund has drawn up more than 20 comparable accounts nationwide and has argued for Bitcoin-based reserves to diversify treasury strategies.
The organization reported that to date he had supported the approval of six pro-bitcoin declarations and claims that more than 220,000 component letters have been generated to support such national initiatives.
HB 302 positions New Hampshire as a test case for wider Bitcoin acceptance at state level.
SBR Race
According to the “State Reserve Race” tracker of Bitcoin Laws, Arizona is the best competition for a second strategic Bitcoin reserve law that has been adopted as a law.
On 1 May the majority of the Senate Recommended Samenloop With the housing changes in the SB 1373 of Arizona. The Senate will now pass on the bill through the living room, which could then go to the office of the governor.
North Carolina and Texas immediately follow behind, with their crypto reserves proposals that are currently presented to the Senate Committee for a second assessment.
By setting up a legal reserve policy and setting operational parameters, New Hampshire has introduced the first enforceable framework for keeping Bitcoin in public treasury accounts in the US.
