Key dealers
- New Hampshire is the first US state to establish a Bitcoin and Digital Assets Reserve Fund.
- The reserve allows up to 5% of total state funds in bitcoin or digital assets with over $ 500 billion market value.
New Hampshire has become the first US state to set up a bitcoin and Digital Assets Reserve Fund today after Governor Ayotte signed the bill, known as HB 302, to the law, according to a announcement issued by Dennis Porter, CEO of Satoshi Action Fund.
The legislation authorizes the state treasurer to buy bitcoin or digital assets with a market capitalization over $ 500 billion, while covering holdings to 5% of the total state funds. The law requires assets to be held in state -controlled multi -signed wallets, with a qualified guardian or through an American stock exchange traded product.
“Satoshi-action developed the model, New Hampshire engraved it in law, and now every treasurer throughout the country can follow that roadmap,” says Dennis Porter, CEO and co-founder of Satoshi Action. “HB 302 proves that you can protect taxpayers’ money, diversifying reserves and future-proof treasury-all while you include the safest monetary network on earth. New Hampshire not just passed a bill; it triggered a movement.”
The bill was proposed by the representative Keith Ammon, an early Bitcoin advocate and Satoshi Action’s “legislator of the year”, together with the majority leader Jason Osborne who helped to guide the legislation to pass.
The law will enter into force 60 days after the passage and establish a framework for the state to start acquiring digital assets for its reserves.
This is a developing story.