New Hampshire’s Bitcoin reserve legislation has successfully passed through the state’s House, marking it as the fourth state to advance such a measure within one legislative chamber.
On April 10, the New Hampshire House voted 192-179 in favor of House Bill 302 after it had previously received a 16-1 endorsement from the House Commerce and Consumer Affairs Committee in early March.
The bill is now set to proceed to the Senate, where it will face additional discussions before potentially reaching Governor Kelly Ayotte’s desk for final approval.
If enacted, HB302 would empower the state treasurer to allocate up to 10% of New Hampshire’s general fund, revenue stabilization fund, or any other funds approved by the legislature into selected digital assets and precious metals, such as gold, silver, and platinum.
For a cryptocurrency to be included in the reserve, it must have sustained an average market capitalization of at least $500 billion during the previous calendar year, a benchmark that is currently only met by Bitcoin.
During the legislative discussion, proponents of the bill argued that it could create new revenue opportunities and enhance financial diversification. Republican Representative Jordan Ulery noted that the proposal presents the “potential for significant revenue generation for the state” through strategic investments in valuable assets like Bitcoin.
In addition, state lawmakers are also considering two other blockchain-related initiatives: HB310, which focuses on stablecoins and real-world asset tokenization, and HB639, which aims to establish broader blockchain regulations and dispute resolution processes.
New Hampshire now joins Arizona, Texas, and Oklahoma as the fourth state where a Bitcoin reserve bill has passed one chamber of its legislature.
As per data from Bitcoin Laws, 47 strategic Bitcoin reserve bills have been proposed across 26 states, with two bills in Arizona currently leading in regulatory advancements.
In a related development, on the same day, Florida’s House Insurance and Banking Subcommittee unanimously advanced its Bitcoin reserve bill, HB487, which would allow the state’s Chief Financial Officer to invest up to 10% of specific public funds.