The House in New Hampshire and the House Insurance and Banking Committee in Florida have each progressed legislation that would permit their respective states to establish Bitcoin reserves.
On April 10, New Hampshire’s House approved its Bitcoin reserve bill, HB302, with a close vote of 192-179, and the bill will now advance to the Senate. This makes New Hampshire the fourth state to pass a Bitcoin reserve bill in one chamber, following Arizona, Texas, and Oklahoma.
If HB302 successfully navigates the Senate and receives the signature of Governor Kelly Ayotte, it would empower the state treasurer to allocate 10% of the state’s general fund and other designated funds for investments in precious metals and select digital assets. The legislation also stipulates guidelines for the custody of these assets.
The bill outlines that only cryptocurrencies with a market cap exceeding $500 billion will qualify for investment, a standard that currently only Bitcoin satisfies.
The House in New Hampshire votes to pass HB302, the Bitcoin reserve legislation.
During discussions prior to the vote, Democrat Representative Terry Spahr expressed concerns that this bill is unnecessary and might jeopardize the security of the state’s digital assets in the future.
“Unbeknownst to the committee and the sponsor […] the treasurer indicated they already possess that authority,” Spahr stated. He emphasized that cryptocurrency is “constantly shifting and changing,” suggesting that locking into certain security measures, as the bill would do, is potentially hazardous.
In response, Republican Representative Jordan Ulery argued that the bill is crucial, as it could lead to substantial financial gains for the state through these investments.
In addition, New Hampshire is considering two other bills related to blockchain: HB310, focusing on stablecoins and the tokenization of real-world assets, and HB639, which addresses blockchain regulation and dispute resolution.
Florida House Committee Approves Bitcoin Reserve Legislation
On the same day, April 10, Florida’s House Insurance and Banking Committee unanimously voted in favor of the state’s Bitcoin reserve bill, HB487.
The bill still requires approval from three additional committees before it can be presented to Florida’s House.
WATCH: The Florida House Committee PASSES Bitcoin Reserve Bill
The Insurance and Banking Committee endorsed HB 487 unanimously today
Including moving testimony from bill sponsor Rep. Webster Barnaby pic.twitter.com/myAlNvtFl9
— Bitcoin Laws (@Bitcoin_Laws) April 10, 2025
Mirroring New Hampshire’s proposal, HB487 would empower Florida’s CFO and the State Board of Administration to invest up to 10% of certain state funds—such as the General Revenue Fund and the Budget Stabilization Fund—into Bitcoin.
The bill’s sponsor, Republican Representative Webster Barnaby, urged the committee to “approve this very important legislation” and claimed it would position Florida at the forefront of this emerging technology.
Florida’s legislation enables the state’s financial chief to invest in digital assets directly, through qualified custodians, or via exchange-traded products, while detailing the necessary security and custody measures.
As tracked by various sources, Arizona currently leads the effort to be the first state in the U.S. to implement a strategic Bitcoin reserve.
Source:
On March 24, two digital assets reserve bills, SB1373 and SB1025, successfully passed Arizona’s House Rules Committee and are now set to move forward to a vote in the state’s House. If approved, they will then require the signature of Arizona’s Democratic governor, Katie Hobbs, to become law.
Magazine: The era of financial nihilism in crypto is over — It’s time to dream big once again