New Hampshire has set a precedent by becoming the first U.S. state to permit the investment of public funds in cryptocurrency, following the signing of a new law by Governor Kelly Ayotte on Tuesday.
The state outpaced others as lawmakers had faced various hurdles recently while attempting to pass similar legislation. With this law, New Hampshire’s treasurer is authorized to create a cryptocurrency reserve, potentially enabling the state to establish a stockpile ahead of the federal government.
Key Information:
- New Hampshire led the pack among states looking to allow public investments in crypto.
- Other states like Arizona and Florida have faced challenges in passing similar laws.
- The new law permits public funds to be allocated up to 5% in Bitcoin, meeting the criteria for assets with a market cap over $500 billion.
“New Hampshire is once again first in the Nation,” stated Governor Kelly Ayotte, reflecting on the state’s achievement in crypto legislation.
Dennis Porter, the founder of the Satoshi Action Fund that advocates for this area of investment, expressed optimism about other states following New Hampshire’s example: “The first one’s the hardest… it’ll really increase the political momentum.”
Conclusion: This move positions New Hampshire at the forefront of digital asset policy in the U.S., potentially inspiring other states to consider similar legislative actions.
