New Hampshire and Florida advance Bitcoin reserve bill
According to Cointelegraph, New Hampshire and Florida have made new progress in advancing Bitcoin reserve bills. On April 10th, the New Hampshire House of Representatives passed the HB302 bill with a vote of 192 to 179 and has submitted it to the Senate for review. The state became the fourth one after Arizona, Texas, and Oklahoma to pass a Bitcoin reserve bill within one chamber. If HB302 is approved by the Senate and signed by Governor Kelly Ayotte, the State Treasurer will be able to use 10% of general funds and other authorized funds for investment in precious metals and specific digital assets; also clarifying asset custody methods. The bill stipulates that only cryptocurrencies with a market value exceeding $500 billion can be invested in - currently only Bitcoin meets this condition.
On the same day, Florida's House Insurance Banking Subcommittee unanimously passed its own Bitcoin reserve bill HB487 which still needs approval from three committees before being submitted to the State House. Similar to New Hampshire's legislation, HB487 allows Florida's Chief Financial Officer (CFO) and Executive Board members to invest up-to-10% of certain state funds (including General Revenue Fund Budget Stabilization Fund) into Bitcoin. This law also grants rights for CFOs or qualified custodians/exchanges directly trading product investments in digital assets while detailing security custody requirements.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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