New Hampshire became the first state in the nation to permit state government funds to be invested in cryptocurrency and precious metals through HB 302, according to the New Hampshire Union Leader. The law caps such investment at 5 percent of any one fund and limits it to digital assets valued above $500 billion, a threshold currently met only by Bitcoin. Gov. Kelly Ayotte signed the measure into law.
The state staked out new ground with the signing, according to the New Hampshire Union Leader.
New Hampshire became the first state in the nation this week to permit state government funds to be invested in cryptocurrency and precious metals.
the New Hampshire Union Leader
House Majority Leader Jason Osborne worked to fast-track the bill to the governor, the New Hampshire Union Leader reports.
House Majority Leader Jason Osborne, R-Auburn, was a co-sponsor and used every possible move to expedite the bill and quickly get it to Gov. Kelly Ayotte, who signed it Tuesday.
the New Hampshire Union Leader
The measure had cleared the House along party lines, the New Hampshire Union Leader reports.
In March, the House approved the bill largely along party lines, 192-179, with the GOP majority solidly in support.
the New Hampshire Union Leader
The state treasurer signaled a cautious approach, according to the New Hampshire Union Leader.
She said she might do so with a small pool of money used for more aggressive investments, but no decisions have been made.
the New Hampshire Union Leader
The House had registered its support earlier, according to the New Hampshire Union Leader.
In March, the House approved the bill largely along party lines, 192-179, with the GOP majority solidly in support.
the New Hampshire Union Leader
The law caps any such investment at 5 percent of a single fund and limits it to digital assets valued above $500 billion, a bar currently met only by Bitcoin. House Majority Leader Jason Osborne co-sponsored the bill and worked to move it quickly to the governor, the New Hampshire Union Leader reports.
The decision on whether to use the new authority rests with the state treasurer, who has signaled caution about deploying it broadly. The first-in-the-nation law cleared the House along party lines before the Senate added its approval, the New Hampshire Union Leader reports.
The Senate followed with its own approval, clearing the way for the first-in-the-nation law, the New Hampshire Union Leader reports. The first-in-the-nation status drew national attention to the state approach to digital assets.
Read the full story at the New Hampshire Union Leader.
