New Hampshire State Representative Keith Ammon has introduced a bill to create a Strategic Bitcoin Reserve, joining the nation-wise trend amid the euphoria of Donald Trump’s inauguration ceremony.
The proposed legislation strives to empower the state treasury to invest in digital assets, including Bitcoin, alongside traditional precious metals like gold, silver, and platinum.
The bill, titled “An Act Relative to Enabling the State Treasury to Invest in Precious Metals and Digital Assets,” outlines a framework for the state to diversify its financial holdings. The proposed reserve would serve as a safeguard against economic uncertainty and inflation, providing New Hampshire with a modernized, diversified treasury strategy.
New Hampshire To Enable State to Invest in ETPs
The proposed bill mandates that digital assets must be stored using a secure custody solution. This includes safeguarding cryptographic private keys in encrypted environments, maintaining geographically diversified secure data centers, and enforcing multi-party governance for transactions.
The legislation will allow the state to invest in regulated exchange-traded products (ETPs) that derive their value from digital assets. This ensures that all investments comply with U.S. regulatory standards set by the Securities and Exchange Commission (SEC) and Commodities Future Trading Commission (CFTC).
The introduction of this bill reflects the growing voice of the Bitcoin Reserve across the nation. The trend began after Donald Trump’s remarkable victory in the presidential election, marking a global shift in favor of the cryptocurrency space. During the campaign, Trump vowed to form crypto-friendly policies and Bitcoin Reserve to thrive digital asset market.
Also Read: Dennis Porter: Up to 20 Bitcoin Reserve Bills Expected at US State Level
Credit: Source link
