After a 16-1 vote in favor of the bill, the House Commerce Committee will now vote on the New Hampshire Bitcoin bill.
On March 5, a House committee in New Hampshire approved the state’s Bitcoin reserve bill 16-1, becoming the most recent US state to submit a bill to the House for a whole floor vote.
According to Bitcoin Laws, House Bill 302 is one of seven active US state bills that have reached the House after being passed by the House Commerce and Consumer Affairs Committee.
If approved, the bill would give the treasurer of New Hampshire the authority to invest 5% of the general fund, revenue stabilization fund, or any other funds that the legislature has approved.
The only digital asset that satisfies this requirement is Bitcoin, even though the bill does not mention it. Only digital assets that have averaged a $500 billion market cap over the previous calendar year are eligible for inclusion.
A qualified custodian or an exchange-traded product must hold any purchased digital assets.
The New Hampshire Bitcoin Bill And Permits
Additionally, the bill would permit the treasurer of New Hampshire to purchase platinum, silver, and gold, among other precious metals.
On January 10, Republican Keith Ammon introduced the New Hampshire bill. Democrats Chris McAleer and Carry Spier also co-sponsored Ammon’s House Bill 302. Ammon pointed out that the bill was changed to eliminate stablecoins and the possibility of staking during the March 5 House committee meeting.
Additionally, he mentioned that Monica Mezzapelle, the treasurer of New Hampshire, has indicated that she would like to invest in the bill’s assets in the future, should it pass.
Before being changed to 5%, the bill suggested that the treasurer allow up to 10% of these assets to the chosen funds.
While one bill from Utah and two from Arizona have already passed that stage, New Hampshire joins North Carolina, Oklahoma, and Texas in waiting for a full vote in their respective houses.
State-level regulatory developments coincide with US President Donald Trump’s announcement on March 2 of a Crypto Strategic Reserve comprising Cardano, Ether, XRP, Bitcoin, and Solana.
But on March 5, Matt Hougan, chief investment officer at Bitwise, stated that it would probably consist almost “wholly of Bitcoin.”
