New Hampshire became the latest U.S. states to propose a Bitcoin reserves bill. It joins the increasing trend that integrates the digital currency into state finance.
The House Commerce and Consumer Affairs Committee of the State passed a bill on Wednesday. House Bill 302 The vote was 16-1.
It is now up for debate in the House. The bill would let the treasurer of the state allocate up to 5 percent of the public’s funds to Bitcoin, along with other precious metals, such as silver and gold.
Donald Trump has publicly backed the Bitcoin Reserve movement. He announced on Sunday his plans to create a U.S. Crypto Reserve Bitcoin and Ethereum “at the heart” It is a fact.
Introduced By Republican Rep. Keith Ammon with cosponsorship by Democrats Chris McAleer & Carry Spier. HB 302 doesn’t explicitly mention Bitcoin, but does note that digital assets with at least a $500 billion market cap would be eligible.
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“We’re tied to the U.S. dollar, whether we like it or not, but this would allow us to have the state invest a small portion into this uncorrelated, new asset class,” Ammon tell Decrypt In January,
New Hampshire follows the trend in other states, such as Utah and Texas. Similar bills are also gaining momentum.
Utah has Make progress Bitcoin was the top candidate in New Hampshire’s Blockchain and Digital Innovation Amendments, which proposed that up to 5 percent of state funds could be allocated for digital assets.
Texas is advancing two Bitcoin-related bills—one for Investing in One % of the general revenue fund and one for handling Bitcoins and Bitcoin Payments
Oklahoma House Government Oversight Committee It is not a good idea to use HB1203, Strategic Bitcoin Reserve Act passed with a 12-to-2 vote. Arizona’s SB 1025 Bitcoin Reserve Bill has been advanced through the Senate Finance Committee.
Even so, Some states have not joined the program.
South Dakota, Montana, Pennsylvania, North DakotaThen, Wyoming Similar proposals have been rejected due to concerns over Bitcoin’s volatile nature and suitability as an asset for the public.
Sebastian Sinclair edited the book