A bachelor of a budget is directed by New Hampshire to vote after the approval of the House of Representatives Committee
New Hampshire has become the latest mandate to submit a draft encryption reserve law to the House of Representatives for full voting.
According to the Bitcoin laws, the House of Representatives Law 302 (HB302) passed the Committee of Trade and Consumer Affairs in the House of Representatives with strong support in a 16-1 vote.
With the committee consisting of 11 Republicans and 7 Democrats, the result indicates that the two parties support for the proposal.
New Hampshire became the seventh country that pushed its bill home. The draft law was presented by Republican Republican Keith Ammon on January 7, with the support of eight Republican sponsors.
The draft law now will go to the full parliament for voting. If passes, he will move to a review of another committee before sending it to the Senate for the final approval.
What is HB302?
Once the law log in, the HB302 will allow the Ministry of Treasury in New Hampshire to invest up to 5 % of the public fund, the revenue installation fund and any other legislative money delegated in qualified digital assets.
To qualify, the cryptocurrency must have maintained the market value of at least $ 500 billion during the past year, which means that bitcoin is the only digital origin at this time.
Any digital assets acquired safely must be kept either through a qualified guardian (such as a bank or an organized company), or a safe nursery solution by the state with strict encryption guarantees, or a trading product (ETP) organized by the American financial authorities.
Besides cryptocurrencies, the cabinet will also include precious minerals such as gold, silver and platinum.
The first repetition of the draft law also guarantees the provisions of Stablecoins and Stokeing, but this repetition was later removed during the amendments. The total allocation has also been reduced from 10 % to 5 % as part of the adjustments.
If it is passed, the draft law will be valid 60 days after a year.
The encryption bills make great progress
As of March 6, other states have been carried out for the coding reserves to the level of the North Carolina, Akllahoma, Tixas, Utta and Arizona. Meanwhile, 19 other countries have made similar proposals, while continuing to review their bills.
Utah is currently in the most advanced legislation phase. On February 20, the Revenue and Tax Revenue Committee in Utah gave the green light to the HB230 Digital Innovation Bill Bill (HB230) with a vote 4-2-1.
Likewise, on January 27, the Senate Finance Committee in Arizona State approved the Bitcoin Strategic Reserve Law in Arizona (SB1025) in a 5-2 vote.
However, the idea of the encryption reserves failed to generate traction in five states, namely Montana, North Dakota, Pennsylvania, South Dakota, and Wyoming, where the proposals were rejected.
At the federal level, President Donald Trump has announced plans to create a national encryption reserve that includes Bitcoin along with the chosen altcoins.
The Bill of Reserves in New Hampshire for encryption is to fully vote after the approval of the House of Representatives for the first time on Invezz
