Bitcoin Reserve Legislation Gets First Approval in the US from New Hampshire

New Hampshire has become the first US state to authorize its treasury to invest in crypto assets, after Governor Kelly Ayotte signed House Bill 302 into law. The new legislation, which takes effect in 60 days, allows the state to begin accumulating Bitcoin and other digital assets with market caps above $500 billion, with a cap of 5% of total state funds.

The move is seen as a way to diversify state reserves while maintaining fiscal responsibility and transparency. The news comes as Florida and Arizona step back from similar crypto investment bills.

Florida's House Bill 487 and Senate Bill 550 have been postponed indefinitely, while Arizona Governor Katie Hobbs vetoed a similar bill, labeling digital assets as "untested investments."