New Hampshire gov releases report on blockchain following executive order

According to the commission, New Hampshire should work toward building a legal framework “for sound development of blockchain technologies and its applications.”

The governor of New Hampshire has released the report of a ​​commission he formed by executive order last year to recommend legislation around digital assets and blockchain.

In a Jan. 19 announcement, Chris Sununu said the Commission on Cryptocurrencies and Digital Assets had reported that the legal and regulatory status of cryptocurrencies and digital assets was “highly uncertain,” stymying development and leading to less protection for investors and consumers. 

The group recommended New Hampshire establish a state legal regime aimed at drawing in blockchain firms and individuals. Specifically, it recommended establishing legal status for decentralized autonomous organizations, or DAOs; putting funds into the state’s court system for resolving disputes involving blockchain issues; and encouraging the government’s banking department to provide “clear, public and proactive guidance” on how financial institutions may handle digital assets.

According to the report, sent to the governor on Dec. 22, the commission considered the human factor in its recommendations, alluding to the collapse of FTX and the arrest of its former CEO Sam Bankman-Fried — i.e. “criminal fraud resulting in the loss of billions of dollars of customer assets”. 

“New Hampshire should take strong pro-active and public steps to build a better legal infrastructure for sound development of Blockchain technologies and its applications,” the report sai.

The report concluded with the following:

“The Commission expects that Blockchain technologies will continue to evolve and develop, and become more integrated into our society and economy […] this next phase of development should be accomplished not only through innovations in computer software protocols, but also should be accompanied by improvements in the legal infrastructure that necessarily operates in parallel with these activities.”

Related: Tennessee lawmaker introduces bill which would allow state to invest in crypto

Sununu referred to the report as “comprehensive and timely”. Other U.S. state governors have pushed efforts to establish regulatory clarity for crypto and blockchain, including California, while New York Governor Kathy Hochul has stood behind a proposal to ban crypto mining operations not based on 100% renewable energy.


Share on facebook
Share on twitter
Share on pinterest
Share on linkedin
On Key

Related Posts

Bitcoin Has Entered Into The Early Bull Phase — Crypto Pundit Avers

Ki Young Ju, the CEO of data analytic firm CryptoQuant is convinced that Bitcoin is on the cusp of a major lift-off as crypto traders continue to switch from a risk-off to risk-on mode. Earlier yesterday, Young tweeted that Bitcoin had “entered into the early bull phase”, suggesting that the top cryptocurrency by market capitalization

Goldman Sachs Ranks Bitcoin Best Performing Asset so Far This Year

Goldman Sachs has ranked bitcoin the best-performing asset so far this year. The cryptocurrency also tops the global investment bank’s list as the asset with the highest risk-adjusted return — above gold, real estate, the S&P 500, and the Nasdaq 100. Bitcoin Outshines Other Investments on Goldman’s Chart Global investment bank Goldman Sachs has reportedly

Global Digital Cluster Coin (GDCC) Is Now Available on LBank Exchange

PRESS RELEASE. LBank Exchange, a global digital asset trading platform, has listed Global Digital Cluster Coin (GDCC) on January 27, 2023. For all users of LBank Exchange, the GDCC/USDT trading pair is now officially available for trading. With its new-age protocol and peer-to-peer network, Global Digital Cluster Coin (GDCC) restructures the concept of money and