New Hampshire’s Governor Launches Commission on Cryptocurrency Regulation

Governor Sununu’s Move into the Crypto World

Chris Sununu, New Hampshire’s reigning governor since 2017, has decided to step into the evolving realm of digital assets. With an executive order, he’s launched a commission to explore the tangled web of cryptocurrency regulations and laws. Talk about a kid diving headfirst into the deep end of the digital pool!

A Commission with a Purpose

Announced this Wednesday, the Governor’s Commission on Cryptocurrencies and Digital Assets is tasked with a significant job: in just 180 short days (or until August 8 to be precise), they need to whip up a comprehensive report assessing New Hampshire’s current standing in the digital asset industry and its legal framework.

The Big Picture

Governor Sununu pointed to the “rising use and acceptance” of crypto and the burgeoning world of blockchain as his reason for this new initiative. Basically, he’s hoping this commission can help New Hampshire keep up with the crypto Joneses. The commission is empowered to hold public hearings to gather input from industry experts—because what’s better than a good old-fashioned debate to kickstart a consensus?

Who’s in Charge?

The commission is no small potatoes; it will include a diverse crew: three public members who know their crypto stuff, the State Attorney General (because hey, all good parties need legal representation), the Commissioner of the Bank Department, and representatives from various banking institutions. Plus, there are some state lawmakers thrown in for good measure. If this was a music band, it would have the perfect mix of rock and folk!

Learning from the Past

Sununu’s order sheds light on prior attempts to introduce cryptocurrency to the state, such as the failed 2020 bill allowing agencies to accept crypto for tax payments—an endeavor foiled by the bumpy ride of Bitcoin’s price swings. Remember folks, just because it has ‘currency’ in the name doesn’t mean it isn’t a rollercoaster!

The Road Ahead

This push towards exploring digital assets isn’t just a New Hampshire thing. Nationally, there’s been a growing urgency among state lawmakers to tackle cryptocurrency regulations in the absence of cohesive federal guidelines. From Florida giving businesses the green light to pay state fees in crypto to Tennessee contemplating a crypto study committee, it seems states are scrambling to get a grip on this digital gold rush-before it slips through their fingers!