- New Hampshire has introduced legislation allowing up to 10% of state treasury investments in cryptocurrencies, focusing on Bitcoin and select stablecoins with substantial market presence.
- North Dakota has proposed Resolution 3001 to diversify state investments into digital assets and precious metals, reflecting adaptation to evolving economic conditions.
- Kenya is transitioning from its historically cautious stance on cryptocurrencies to developing comprehensive regulations, launching a draft policy for virtual assets while addressing security concerns.
If you thought 2024 was the year of institutional crypto adoption just wait what 2025 has in store. News from the US and Africa has crypto investors excited as talk about regulation and Bitcoin reserves heat up.
US States are Mulling BTC Reserve
New Hampshire State Representative Keith Ammon has just kick-started things with a bill that would see the state invest in cryptocurrencies. The bill would allow the state to include digital assets like Bitcoin and stablecoins in its state treasury, up to a cap of 10%.
While BTC could be the main asset, other cryptos with a significant market cap and regulatory clarity could also be included in the strategic reserve.
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North Dakota is another state interested in adding Bitcoin – and potentially other digital assets – to its reserves. Late last week, the state introduced ‘Resolution 3001’, with the goal of diversifying investment in precious metals and digital assets.
The resolution which already has 11 sponsors, doesn’t expressly name Bitcoin, but rather digital assets, and highlights the shifting economic landscape:
Changing economic conditions and emerging investment opportunities require prudent investment of the state’s financial resources.
Resolution 3001
Kenya Readies Itself for Crypto
Meanwhile, 11,500 km to the south-east, the African nation of Kenya is preparing to legalise cryptocurrencies. John Mbadi, the country’s Treasury Cabinet Secretary, said the country is considering a change from a previous tough stance to making crypto legal.
The country with a population of 55 million and a gross domestic product (GDP) of US$107.4 billion (AU$174.6 billion), has historically been cautious when it comes to the crypto sector.
In 2015, the central bank warned about the use of crypto, claiming it was not legally regarded as a currency and no licensing for money remittance involving crypto existed.
In 2022, Kenya began to consider a more nuanced approach to crypto, reflecting the industry’s growth within the nation.
In December 2024, Kenya explored the feasibility of virtual assets in a draft policy which included virtual asset services providers.
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According to Mbadi, the country’s latest efforts involve crafting a regulatory framework aimed at maximising the sector’s benefits while addressing risks such as money laundering and fraud, alongside the recent launch of a draft policy to ensure a fair and competitive market for the cryptocurrency industry.
The Government of Kenya is committed to creating the necessary legal and regulatory framework in order to leverage opportunities presented by VAs and VASPs while managing the resultant risks.
John Mbadi, Kenya’s Treasury Cabinet SecretaryCredit: Source link
