New Hampshire Lawmaker Proposes Legislation Allowing State Treasury to Invest in Digital Assets and Precious Metals
A New Hampshire lawmaker recently introduced House Bill 302, a piece of legislation aimed at enabling the state’s treasury to invest in digital assets and precious metals. If passed, the bill would grant the New Hampshire state treasurer the authority to allocate a portion of public funds towards purchasing precious metals, any digital asset with a market capitalization exceeding $500 billion, and/or stablecoins.
Under the proposed bill, the state treasurer would be limited to investing no more than 10% of the total public funds in any of the aforementioned categories. Any cryptocurrency acquired by the state of New Hampshire would need to be securely held through a custody solution, either directly or via a qualified custodian, or in the form of an exchange-traded fund (ETF). Additionally, the state treasurer would have the option to lend and stake the purchased crypto through third-party solutions.
Republican State Representative Keith Ammon is the driving force behind this potential legislation. He has expressed confidence that the bill will undergo thorough consideration in the state house, stating, “100% chance it will have a hearing, work session, and vote on the House floor. Every bill in NH gets the complete treatment.”
This move by New Hampshire follows a similar initiative proposed by a member of the Texas House of Representatives in December, which focused on establishing a strategic Bitcoin (BTC) reserve.
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As we anticipate the outcome of House Bill 302 in New Hampshire, it’s clear that the landscape of public investment strategies is evolving to include a diverse array of assets, including digital currencies and precious metals.
Photo credit: Midjourney
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