A New Hampshire lawmaker this week introduced legislation aimed at directing the state’s treasury to invest in digital assets and precious metals.
If House Bill 302 passes, New Hampshire’s state treasurer could use some of the public funds to buy precious metals, digital assets with a market cap of more than $500 billion, and/or stablecoins.
The bill stipulates that the treasurer may not invest more than 10% of the total amount of public funds in any of these three categories.
Crypto purchased by New Hampshire would have to be held directly through a secure custody solution, on behalf of the state through a qualified custodian, or in the form of an exchange-traded fund (ETF). The treasury could also lend and deploy the purchased crypto through third-party solutions.
Republican state Rep. Keith Ammon introduced the potential legislation. He promises that the bill will receive proper consideration in the state House.
“100% chance there will be a hearing, work session and vote in the House of Representatives. Every bill in NH gets full treatment.”
A member of the Texas House of Representatives proposed similar legislation in December, although that bill was specifically aimed at establishing a strategic Bitcoin (BTC) reserve.
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