New Hampshire is the newest American state that has taken a Bitcoin reserve account to the house, whereby the house committee cleans up the proposal on 5 March.
According to Bitcoin laws, House Bill 302 The house trading and consumer business committee adopted in a 16-1 votes. The proposal was introduced by Republican Keith Ammon on January 7.
HB302 proposes to enable New Hampshire treasurer to 5% of the General Fund, Revenue Stabilization Fund or other legally authorized funds in eligible digital assets and noble metals such as gold, silver and platinum.
To be included in the reserve, a cryptocurrency must have maintained an average market capitalization of at least $ 500 billion in the past calendar year. Bitcoin is currently the only one that is eligible.
Initially, the bill proposed a allocation of 10% for and included stablecoins and staking options, but one change Reduced the allocation to 5% and removed these provisions.
Furthermore, HB302 requires that the assets are being held by a qualified custodian or in a listed product.
With approval from the committee, the bill is now transferred to a complete vote. If adopted, it will transfer to another committee assessment before it goes to the Senate for a final vote.
Currently, according to Bitcoin laws, only seven US state accounts, including those from New Hampshire, are going to the home level. Other states with Bitcoin-related accounts at this stage are North Carolina, Oklahoma and Texas. In the meantime, Utah and Arizona are the only two states that have cleared this phase.
Utah is at the forefront of American states in pushing Bitcoin-related legislation. On February 21, the State income and tax committee approved the blockchain and digital innovation change account (HB230) with a 4-2-1 voting.
As previously reported by Crypto.news, Trump will unveil a Bitcoin Reserve strategy on the Crypto Summit of the White House on 7 March. In a recent social post Social Post, the president suggested that the reserve Altcoins such as XRP, Solanda and Cardano could include Bitcoin and Ethereum.
