New Hampshire Passes 'Blockchain Basic Laws' to Foster Crypto-Friendly Environment
New Hampshire has taken a significant step towards embracing cryptocurrency and blockchain technology by passing 'Blockchain Basic Laws' (HB 639) earlier this month. The bill, sponsored by Rep. Keith Ammon, aims to protect blockchain-related activities from excessive regulation.
The law defines what blockchain is, establishes a dedicated court docket for disputes related to the technology, and protects certain activities such as using digital assets for purchases and self-custodying one's holdings without needing a third-party intermediary. It also prohibits crypto-specific taxes on purchases made with digital currency and exempts individuals mining for digital assets from requiring a money transmitter license.
Proponents of blockchain technology, like Rep. Ammon, view it as a way to decentralize the monetary system and limit government control over money supply. He hopes that New Hampshire will catch up with states like Wyoming, which has taken an aggressive pro-blockchain stance.