NH Lawmakers Question Special Treatment for Cryptocurrency Industry
New Hampshire has a proud tradition of community participation and local decision-making, but HB 639, signed into law by Gov. Ayotte, abandons this principle. Supporters call it a blockchain bill or an economic development bill, but at its core, it creates unique protections and privileges for the cryptocurrency industry.
The legislation creates a specialized blockchain court docket and limits certain consumer protections. Sen. Donovan Fenton and Reps. Lucy Weber & Kat McGhee question why cryptocurrency companies need their own set of rules and dedicated court when other industries don't have this luxury. They wonder, if this industry is as beneficial as claimed, why does it require special treatment?
This bill sends a message that out-of-state corporations make the decisions, not local communities. For example, residents in Nottingham recently faced a proposed data center in their backyard, and they're concerned about who's making these decisions.