Kelly Ayotte, the Governor of New Hampshire, signed a bill into law allowing the state’s treasurer to invest in cryptocurrencies, including Bitcoin (BTC).
In a May 6 notice, Ayotte announced on social media that New Hampshire would be permitted to “invest in cryptocurrency and precious metals” through a bill passed in the state Senate and House of Representatives. House Bill 302, introduced in New Hampshire in January, will allow the state’s treasury to use funds to invest in cryptocurrencies with a market capitalization of more than $500 billion, eliminating many tokens and memecoins.
With the signing of the bill into law, New Hampshire was the first of several US states considering passing legislation to establish a strategic Bitcoin reserve, including an initiative with the federal government. A similar bill in Arizona passed the state’s House in April but was vetoed by Governor Katie Hobbs on May 2, and Florida’s government withdrew two crypto reserve bills from consideration on May 3.
Related: Bitcoin’s role as a reserve asset gains traction in US as states adopt
The efforts to create crypto reserves in different US states come as US President Donald Trump and Republican lawmakers propose similar policies at the federal level. Trump signed an executive order in March to establish a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.”
Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
This is a developing story, and further information will be added as it becomes available.