The state of New Hampshire proposed a bill to create a 'Strategic Reserve' that includes both traditional precious metals and digital assets, like Bitcoin.
Bill Details
The announcement of the proposed bill was made by Dennis Porter, co-founder and CEO of Satoshi Action Fund, on the X platform. This initiative would allow the state treasury to invest in traditional precious metals like gold, silver, and platinum, as well as modern digital assets such as Bitcoin.
Digital Assets and Security
The proposed legislation aims to introduce new regulations defining 'qualified custodians' and 'secure custody solutions' to ensure safe storage and handling of digital assets. It also seeks to facilitate operations through the use of regulated and approved exchange-traded products.
Regulated Exchange Products
These products, deriving value from assets like stocks, bonds, or commodities, would be traded on US-regulated exchanges and comply with oversight from authorities like the SEC and CFTC.
This move underscores New Hampshire's intention to modernize its financial practices by integrating digital assets into the state's treasury operations.
