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New Hampshire Launches a Governor's Commission for Bitcoin and Cryptocurrencies

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Governor Chris Sununu established a Governor’s Commission where members will be able to help determine Bitcoin and cryptocurrency regulations for the state.

Governor Sununu signed Executive Order 2022-1 on February 9th in order to create a Governor’s Commission that will analyze and review all regulations related to Bitcoin, cryptocurrencies, and other digital assets. 

Sununu stated, “New Hampshire is a hub of financial innovation, and this Executive Order will further our commitment to attracting high quality banking and financial businesses in a safe and responsible manner”.  

Like other states developing their own Bitcoin and cryptocurrency regulations, Sununu is moving forward with the Commission in order to place New Hampshire in the best possible position for Bitcoin and cryptocurrency adoption. “I am excited for the work this Commission will undertake and the recommendations they will provide so that New Hampshire can continue to advance necessary reforms that promote economic growth, foster innovation, and meet changing customer needs while ensuring safety, soundness, and consumer protection,” he said.

Additionally, the Executive Order states all of the responsibilities for the Committee members. Some of these tasks include: 

  • Reviewing and investigating the underlying technologies of Bitcoin and other cryptocurrencies.
  • Understanding the current status of U.S. federal and state laws for businesses and banks that provide Bitcoin and cryptocurrency services.
  • Holding public hearings for all local industry sectors involved in Bitcoin and cryptocurrency.
  • Reviewing the effectiveness of current state laws. Determining whether or not laws and regulations should be updated for current developments within the space.
  • Finding out how Bitcoin and other cryptocurrencies are affecting economic competitiveness within the state, impacts on the financial system (locally and nationally), and the effect on citizens’ privacy.
  • Providing feedback or recommendations to improve laws.

The Governor’s Commission members will consist of the Attorney General, Commissioner of the Bank Department, a state senator and one state representative. Other members such as a representative of the New Hampshire Bankers Association, a representative of the Cooperative Credit Union Association, three public members involved in the Bitcoin and cryptocurrency industry, and three additional members appointed by the Governor will also be involved.


 

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Deniz Saat is an IT services specialist, technical writer and editor for BTC Times. His mission is to onboard as many people as possible into the Bitcoin overlay through education and content creation.

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