New Hampshire’s Bitcoin reserve bill clears House Committee

New Hampshire is the last American state to advance a Bitcoin reserve bill to the House, its Chamber Committee erased the proposal on March 5.

According to Bitcoin laws, House Bill 302 adopted the Chamber’s Commercial and Consumer Committee during a 16-1 vote. The proposal was presented by Republican Keith Ammon on January 7.

HB302 to propose Allow the New Hampshire treasurer to invest up to 5% of the general fund, the income stabilization fund or any other fund authorized by law in eligible digital assets and precious metals such as gold, silver and platinum.

To be included in the reserve, a cryptocurrency must have maintained an average market capitalization of at least $ 500 billion in the last calendar year. Bitcoin is currently the only asset that qualifies.

Initially, the bill proposed an allowance of 10% and included stablescoins and implementation options, but a amendment has reduced the allowance to 5% and removed these provisions.

In addition, HB302 requires that the assets be held by a qualified depositary or in a product negotiated on the stock market.

With the approval of the guaranteed committee, the bill is now going to a full vote from the Chamber. If it is adopted, he will carry out another committee exam before going to the Senate for a final vote.

Currently, only seven American bills of the State, including New Hampshire, have progressed at home level, according to Bitcoin laws. The other states with invoices related to Bitcoin at this stage include North Carolina, Oklahoma and Texas. Meanwhile, Utah and Arizona are the only two states that have taken this stage.

Utah paves the way among the American states to push the legislation linked to Bitcoin. On February 21, the Senate Committee for State income and taxation approved The bill on blockchain and digital innovation changes (HB230) with a 4-2-1 vote.

As before reported By crypto.News, Trump should unveil a Bitcoin reserve strategy at the top of the White House cryptography on March 7. In a recent social article of truth, the president suggested The reserve could include altcoins like XRP, Solanda and Cardano alongside Bitcoin and Ethereum.