New Hampshire has become the first state in the US to enact House Bill 302, establishing a Strategic Bitcoin Reserve. This marks an important milestone in the legitimization of cryptocurrencies at the state level.
Signing of the Bitcoin Reserve Law
Governor Kelly Ayotte has signed House Bill 302, which grants the state treasurer the authority to invest 5% of its portfolio into Bitcoin and other digital assets with a market cap over $500 billion. Currently, only Bitcoin meets this requirement.
Impact on Other States and the Crypto Industry
With this law in place, some experts predict that other states may follow New Hampshire's lead. Dennis Porter, co-founder of the Satoshi Act Fund, noted that this is a historic moment and expects the legislation to influence future financial operations with digital assets.
Development of Similar Initiatives in Other States
Despite New Hampshire's success, not all states are faring as well. In Arizona, Governor Katie Hobbs vetoed a similar bill, and Florida also withdrew its crypto reserve proposals. However, Texas and North Carolina are working on their own legislative initiatives.
The enactment of the Strategic Bitcoin Reserve law in New Hampshire is a significant step towards the adoption of cryptocurrencies at the state level, despite facing challenges in other regions.
