Bitcoin reserve bills advance in New Hampshire, Florida

Key Points

  • New Hampshire's House passed a Bitcoin reserve bill, HB302, with a vote of 192-179, making it the fourth state to do so.
  • Florida's House Insurance and Banking Committee advanced a similar bill, HB487, unanimously.
  • Both bills allow state treasurers to invest up to 10% of certain state funds into Bitcoin.
  • New Hampshire's bill specifies investment in cryptocurrencies with a market cap over $500 billion, currently only Bitcoin.
  • Florida's bill includes provisions for direct investment, through custodians, or via exchange-traded products.

Summary

New Hampshire and Florida are making significant strides in integrating Bitcoin into their state financial strategies. New Hampshire's House passed HB302, allowing the state treasurer to invest in Bitcoin and precious metals, marking it the fourth state to advance such legislation. The bill, which now heads to the Senate, specifies that only cryptocurrencies with a market cap over $500 billion are eligible, effectively limiting investments to Bitcoin. In Florida, the House Insurance and Banking Committee unanimously passed HB487, which would permit the state's chief financial officer to invest up to 10% of certain state funds into Bitcoin. This bill outlines various investment methods and security measures. Both states' moves reflect a growing trend among U.S. states to explore Bitcoin as a reserve asset, with Arizona currently leading the race to establish the first official state Bitcoin reserve. These legislative efforts highlight a broader acceptance and integration of digital currencies into state financial systems.

cointelegraph
April 11, 2025
Crypto
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