New Hampshire Leads US States in Digital Asset Reserve Laws

New Hampshire has become the first US state to allow digital asset investments and create reserves. Other states are considering similar laws.

Key developments include:

Arizona is reviewing a law for a “digital assets strategic reserve fund,” but Governor Katie Hobbs may veto it after rejecting a previous bill on virtual currency investments.
North Carolina's Digital Assets Investments Act would let the state treasurer invest up to 5% of designated funds in qualifying digital assets. It has passed a second reading in the House.
Texas proposed the Strategic Bitcoin Reserve and Investment Act, which aims to establish a fund for crypto assets with a market cap over $500 billion.
Experts anticipate that several states will adopt similar measures soon to hedge against inflation and protect their finances.

Support for these initiatives appears positive, with North Carolina's governor expressing some backing and Texas advocating for its role as a crypto capital.

Further proposals may improve clarity and structure, as indicated by ongoing discussions regarding a framework from the Bitcoin Policy Institute set for release in June.