Key Takeaways
- New Hampshire’s HB 302 would enable funding of 10% of state funds in Bitcoin.
- The invoice handed its second committee with a 4–1 vote and now heads to the total Senate.
- Solely Bitcoin qualifies beneath the invoice’s $500 billion market cap requirement.
New Hampshire’s Home Invoice 302 (HB 302), which might authorize the state treasurer to allocate as much as 10% of basic funds into Bitcoin and valuable metals, has handed its second committee and can now face a vote by the total Senate.
The invoice cleared the Senate committee on April 23 in a 4–1 vote after beforehand passing the Home 192–179.
Launched in January, the laws requires the governor’s signature if authorised by the Senate.
Beneath HB 302, solely digital belongings with a market capitalization over $500 billion would qualify — presently a threshold met solely by Bitcoin.
Help & opposition
Supporters argue the invoice presents the state a chance to learn from probably excessive returns.
Republican Consultant Jordan Ulery famous:
This might internet the state a big sum of money.
Nevertheless, some lawmakers voiced concern.
Democratic Consultant Terry Spahr mentioned the invoice is pointless and will jeopardize the safety of the state’s digital holdings, asserting that the state treasurer already possesses ample funding authority.
Extra blockchain laws
Along with HB 302, New Hampshire’s legislature is contemplating two different blockchain-related payments.
HB 639 targets dispute decision and regulatory buildings for blockchain, whereas HB 310 explores tokenization of real-world belongings and stablecoin implementation.
Arizona’s parallel efforts
In the meantime, Arizona is pursuing its personal path, analyzing the creation of a strategic Bitcoin reserve, which might make it the primary U.S. state to take action.