New Hampshire signed a new crypto law

[rdluffy]

I just read an interesting news:

New Hampshire's governor signed the Blockchain Basics Law

Known as the The Blockchain Basic Laws act, the bill provides protections for cryptocurrency innovation and use in the state while also allowing for the creation of a special blockchain dispute docket in the superior court.

“The Blockchain Basic Laws protect one of the most fundamental rights in the digital economy—the right of individuals to control their own digital assets through self-custody,” he added. “They also provide clear legal protections for blockchain developers, miners, validators, entrepreneurs, and businesses building the next generation of financial technology.”

Source: https://decrypt.co/373424/new-hampshire-bitcoin-reserve-blockchain-basic-laws-signing


Although it may not seem a huge thing at first glance, it’s quite interesting that the government guarantees your right to self-custody
It also guarantees residents the right to trade goods and services using crypto, and ensures that the state does not impose additional fees on crypto payments
There are another things

It seems to me like a sound legal framework to provide greater security for crypto companies looking to establish their businesses there

Here in Brazil, there’s a discussion about banning certain self-custody crypto, specially stablecoins, in other words, the government wants to have control over this 

[adultcrypto]

I like the transparency in this law, no ambiguity and it shows that the government have genuine intention of making New Hampshire cryptocurrency friendly. This is totally different from some of the laws in some other places that put so many limitations like those in my country Nigeria that is inconsistent in that government says one thing and does the opposite because of contradictory clauses in the law. I like the part that they guarantees the right to self-custody, that is a game changer. This is a welcome development that I hope others will copy.

[dezoel]

To be fair, it's something that is beneficial to crypto people, and not a bad thing at all, but I also understand why it may not be the perfect way to move forward because it's very limited, to just one place.

We need a lot more than just one place to make this more public so that we could have something larger. I understand the logic, people do want to have something that would be a lot bigger, so if this was not just New Hampshire, but more like whole of USA then it would have been better.

[Opiate32]

To be fair, it's something that is beneficial to crypto people, and not a bad thing at all, but I also understand why it may not be the perfect way to move forward because it's very limited, to just one place.

We need a lot more than just one place to make this more public so that we could have something larger. I understand the logic, people do want to have something that would be a lot bigger, so if this was not just New Hampshire, but more like whole of USA then it would have been better.

I dont think state level law should be underestimated. In USA, states often become testing ground for new policies. If New Hampshire shows that protecting self custody and providing legal clarity attracts businesses and investments without creating any major problem, many states may be encourage to adopt similar frameworks.

In that sense one states success can gradually influence national policy. Every broader reform usually start from somewhere and this could be one of those first steps.

[Fortify]

I just read an interesting news:

New Hampshire's governor signed the Blockchain Basics Law

Although it may not seem a huge thing at first glance, it’s quite interesting that the government guarantees your right to self-custody
It also guarantees residents the right to trade goods and services using crypto, and ensures that the state does not impose additional fees on crypto payments
There are another things

It seems to me like a sound legal framework to provide greater security for crypto companies looking to establish their businesses there

Here in Brazil, there’s a discussion about banning certain self-custody crypto, specially stablecoins, in other words, the government wants to have control over this  

Based on what you've described it does sound progressive and places like US states are going to be the most impactful in pushing forward wider support for crypto. As these things become enshrined in state law it becomes harder for the federal government to create obstacles against it. Each of these small success stories gives security to investment funds to trade in crypto with better legal backing and it appears that New Hampshire are trying to woo such companies into their state. They're a fairly rich state already and probably have a few crypto multi millionaires who encouraged this sort of legislation to protect themselves and grow new revenue streams.