The New Hampshire became the first state in the US to make a strategic Bitcoin reserve law after Governor Kelly Ayotte signed the House Bill (HB) 302. It ended the process that began in January when Rep Keith Ammon suggested the bill.
With the transition, the state treasurer now has the authority to invest 5% of its portfolio at BTC and any other digital assets with a market cap of over $ 500 billion. Only Bitcoin is currently meeting this requirement.
Ayotte Himself announced the development of X (formerly Twitter), noting that the law allowed the state to invest in crypto and precious metals. The law will now take effect in 60 days.
He said:
“New Hampshire is again in the country again!
Not surprisingly, many others celebrated the milestone. Ammon took the announcement “first,” while New Hampshire House Republicans POSTED:
“Live free or die state leads to the way to remove the future of commerce and digital assets.”
Meanwhile, many in the Crypto community believe that this move will set the ball rolling for other states to adopt Bitcoin as a reserve owner and allow investment in crypto.
According to co-founder of Satoshi Act Fund, Dennis PorterThis is the history of labor. The Satoshi Act Fund is the advocacy group that drives for US states to make crypto reserve laws, and most of the suggested state law on the issue is that they are modeling after its proposal.
New Hampshire's decision A positive development in a rough week for pro-Crypto efforts
The timing of the law may not be more perfect because it coincides with recent failures and uncertainty for pro-crypto legal efforts. Arizona Governor Katie Hobbs posted a similar bill to create a digital stockpile assets on May 2, while Florida's legislature also withdrew two Bills of the Crypto reserves from the conclusion.
There are uncertainty at the federal level if Congress passes a crypto -related law. The Stablecoin Bill is currently faced with pushback from Democrat senators, while some House Democrats are now walking at a joint hearing on Crypto regulations today, citing a conflict of interest in President Trump's interaction with the crypto industry.
In Congress that seems to be divided into regulating stablecoins, there are concerns that failure can cause the bullish momentum industry to lose. Interestingly, there is also a strategic Bitcoin Reserve Act Bill sponsored by Senator Cynthia Lummis considered in Congress,
Strengthening innovation, technology, and competitiveness through that -already -optimized investment nationwide (Bitcoin) Act, suggested that the US has made Bitcoin a reserve of possession and holds up to 1 million at BTC, is currently undergoing review of the Senate banking committee.
However, the fact that members of Congress may not be in agreement with the regulating of Stablecoin, a tool that believes many will benefit the US national interests and helps spread the influence of the US dollar, making a national bitcoin national reserve slimmer.
Many US states work on Bitcoin reserve laws
Meanwhile, other US states are also working on a law that will allow SBR, including Texas and North Carolina Having a room that passes the bill. These two make the most likely to see further development in the effort.
However, Arizona still has the Bitcoin Reserve Bill, SB1373, which is being filed by the legislature but has not been sent to the governor for the signature. Bitcoin Laws It is noted that the SB1373 can still stand a chance because it is not involved in state retirement funds such as the SB1025 -Veto.
The news of the law did not have much effect on Bitcoin as the flagship reached only 0.5% in the last 24 hours and remained at $ 94,000 to $ 95,000 range.
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