New Hampshire could become the first state of the country to allow its state treasurer to invest in cryptocurrency. Google Play
New Hampshire could become the first state of the country to allow its state treasurer to invest in cryptocurrency.
There is Bill on the way to the governor’s office to put the state of granite at the forefront of digital finance.
This week, the New Hampshire Senate adopted legislation in the House to allow the Treasurer of the State to invest in precious metals and digital assets.
>> Download the free WMUR app for getting on the move: Apple | Google Play <
The bill includes a market capitalization threshold of $ 500 billion for investment, which currently means that only Bitcoin would be eligible.
“So, if she thinks it’s a good idea for New Hampshire, we have put railings around, we have to allow her to have the opportunity to do so,” said senator Tim Lang, R-Sanborton.
There is an opposition. Some maintain that digital currency is not an appropriate investment for public funds.
“Bitcoin is neither sure nor liquid. This bill would make her play with taxpayers’ money and local, which we should not authorize. It would be taxable. Bitcoin is known for his extreme volatility,” said Senator Cindy Rosenwald, D-Nashua.
Other legislators are skeptical, but they emphasize that this legislation does not impose that the treasurer puts money in these assets, only that he allows them to do so.
And legislators say that the treasurer told them that certain public funds, such as the Rainy Day Fund, are not suitable for this type of investment.
>> Subscribe to Wmur’s YouTube channel <
“I do not invest in Bitcoin and I would not recommend it. However, I think we have to trust the treasurer to do the right thing. And it is, you know, these are people who understand the markets, they understand the assets, they understand how to invest for the best return.
The main sponsor of this bill hopes that it will quickly go to the office of Governor Kelly Ayotte, because there are a handful of other states proceeding with similar legislation, including Arizona and Texas.
“So there is a race that is going on at the moment of which the governor will sign it first and that will make history,” said representative Keith Ammon, R-New Boston.
