New Hampshire has enacted a landmark cryptocurrency law. On 6 May, Governor Kelly Ayotte signed a bill allowing the state to invest in digital assets and precious metals. This makes New Hampshire the first US state to implement such a legal framework.

Details of the Cryptocurrency Law

Under House Bill 302, the state treasury may invest in cryptocurrencies with a market cap above $500 billion. This excludes meme coins and unstable tokens.

Precious metals like gold and silver are also covered by the law, adding diversification and security to state holdings.

Other States Fall Behind on Crypto Policy

While New Hampshire moves ahead with its cryptocurrency law, others have stalled. Arizona passed a similar bill, but it was vetoed by Governor Katie Hobbs.

Florida withdrew two proposals related to crypto reserves on 3 May, halting further discussion for now.

Federal Government Eyes Similar Crypto Regulations

The impact of New Hampshire’s law is reaching Washington. Former President Donald Trump signed an executive order exploring a Strategic Bitcoin Reserve.

Senator Cynthia Lummis proposed the BITCOIN Act, suggesting the US could hold over 1 million BTC from asset seizures. The bill is under Senate review.

A Model for Future Cryptocurrency Laws?

New Hampshire’s move sets a powerful example. Its new cryptocurrency law may pave the way for others to follow.

Whether it influences national policy remains uncertain, but the discussion is clearly gaining momentum.

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