New Hampshire (NH) Governor Chris Sununu’s “Commission on Cryptocurrencies and Digital Assets” has released findings suggesting that the NH Department of Energy create a public review of how cryptocurrency operations bitcoin mining could be incorporated into a statewide energy plan.
The commission cites “positive impacts for the power system, including contributing to a more stable power grid, more sustainable generation projects, and lower costs for consumers in general,” as justification for this recommendation.
Governor Sununu created the Commission by executive order in February 2022, which stated in part that “the State of New Hampshire should continue to be an active promoter of innovation in financial services and should remain an excellent jurisdiction to attract businesses banking and financial services of the highest quality. and the well-paying jobs they provided for our citizens.
The findings of this report come a few months after the publication of a report titled “Texas Work Group On Blockchain Matters”. Aimed at members of the Texas legislature, it recommended making bitcoin a permitted investment for the state, while giving tax incentives to local BTC miners. Both reports conclude that more Bitcoin research is needed and indicate that US states are increasingly considering the benefits of Bitcoin adoption.
The New Hampshire report also indicated the need for regulation to protect consumers. “A well-regulated cryptocurrency market provides consumer protection and market confidence, which is a boon for investors, the general public and businesses,” reads Appendix B, authored by the New Hampshire Bureau of Securities Regulation. “What has become increasingly clear over the past few years is that cryptocurrency plays a role in securities regulation.”
States like New Hampshire and Texas could end up paving the way for Bitcoin adoption in the United States if they decide to follow such recommendations. It is important for Bitcoiners who have ties to the state legislature or are part of the Bitcoin ecosystem to advocate for continued investigation into how states can incorporate the technology, as states are often much more nimble in their ability to adopt new technologies relative to the federal government. .
