New Hampshire is moving towards establishing a Bitcoin reserve, as its House committee approved House Bill 302 on March 5.
Introduced by Republican Keith Ammon on January 7, the bill passed with a 16-1 vote and aims to allow the state treasurer to invest up to 5% of certain funds into eligible digital assets and precious metals, including Bitcoin, gold, silver, and platinum, according to Bitcoin Laws,
NEW HAMPSHIRE Update:
Bitcoin Reserve Bill HB302 has passed the House Commerce and Consumer Affairs Committee.
The vote was 16 – 1 pic.twitter.com/7DpzFzxgda
— Bitcoin Laws (@Bitcoin_Laws) March 6, 2025
For a cryptocurrency to be included in the reserve, it must have maintained an average market capitalization of at least $500 billion over the past year. At present, Bitcoin is the only asset that meets this requirement.
The bill initially proposed a 10% allocation for certain assets, including stablecoins and staking options, but this was amended to 5%, and those provisions were removed. It also mandates that assets be stored with a qualified custodian or through an exchange-traded product. With committee approval, the bill moves to a full House vote and, if passed, will undergo another committee review before reaching the Senate.
According to Bitcoin Laws, only seven U.S. state bills, including New Hampshire’s, have advanced to the House level. Other states with Bitcoin-related bills at this stage include North Carolina, Oklahoma, and Texas, while Utah and Arizona are the only two to have progressed beyond this stage.
Satoshi Act Fund CEO Dennis Porter believes Utah could be the first state to pass Bitcoin-related legislation, which could encourage broader adoption. The state has already made significant progress, with its Senate Revenue and Taxation Committee approving the Blockchain and Digital Innovation Amendments bill (HB230) on February 21 in a 4-2-1 vote. This positions Utah at the forefront of Bitcoin-related policymaking in the U.S.
Meanwhile, momentum for Bitcoin regulation is building at the federal level. President Donald Trump is expected to unveil a comprehensive Bitcoin reserve strategy at the upcoming White House Crypto Summit on March 7, which could shape the national approach to digital assets.
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