A New Hampshire lawmaker introduced legislation this week designed to allow the state’s treasury to invest in digital assets and precious metals.
If House Bill 302 is passed, the New Hampshire state treasurer could use a portion of public funds to purchase precious metals, any digital asset with a market capitalization of over $500 billion, and/or stablecoins.
The bill stipulates that the treasurer would not be able to invest more than 10% of the total amount of public funds in any of those three categories.
Crypto bought by New Hampshire would need to be held directly through a secure custody solution, on behalf of the state via a qualified custodian, or in the form of an exchange-traded fund (ETF). The state treasurer would also be able to lend and stake the purchased crypto through third-party solutions.
Republican State Representative Keith Ammon introduced the potential legislation. He promises the bill will receive proper consideration in the state house.
“100% chance it will have a hearing, work session, and vote on the House floor. Every bill in NH gets the complete treatment.”
A member of the Texas House of Representatives proposed similar legislation in December, though that bill focused specifically on establishing a strategic Bitcoin (BTC) reserve.
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