New Hampshire Takes a Big Step into the World of Bitcoin
Something exciting is happening in New Hampshire! The state’s lawmakers have voted 16-1 to let the state treasurer invest in Bitcoin. This is a huge step towards using Bitcoin in the state’s finances, and it might inspire other states to do the same.
What’s in the Bill?
The bill, written by a Republican named Keith Ammon and supported by Democrats Chris McAleer and Carry Spier, allows the state treasurer to invest up to 5% of certain funds in digital assets. These assets must have been worth at least $500 billion on average over the past year. Right now, only Bitcoin meets this rule, so it’s the main focus of the bill.
The bill also says that these investments must be kept safe by a special custodian or in a form that can be traded on an exchange. This is to make sure the money is secure and easy to track.
Changes to the Bill
At first, the bill wanted to invest 10% of the funds, but it was changed to 5% to be more careful. Also, the bill was changed to not include stablecoins or the chance to earn more coins by holding them (called staking). The current treasurer, Monica Mezzapelle, has said she’s ready to invest in these assets if the bill passes.
Other States and the Federal Government
New Hampshire isn’t the only state thinking about using cryptocurrencies. States like North Carolina, Oklahoma, and Texas are also considering similar bills. Even the federal government is getting involved. President Donald Trump has talked about creating a Crypto Strategic Reserve, which would include Bitcoin and other major cryptocurrencies.
What Does This Mean?
The vote in New Hampshire is a big deal because it shows that states are starting to see cryptocurrencies as real investment options. As the bill moves forward, it could help bring Bitcoin and other digital assets into the mainstream of financial planning.
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Sources:
– Cointelegraph
– ADVFN