In the midst of a dynamic political landscape, two legislative initiatives in New Hampshire and Florida are advancing firmly towards the creation of state bitcoin reserves ($BTC ), marking a milestone in the integration of cryptocurrencies into the public finances of the United States. New Hampshire's HB 302 project, narrowly approved in the House, is heading to the Senate, where an intense but favorable debate is expected due to the Republican majority. Meanwhile, in Florida, HB 487 received unanimous support in the Insurance and Banking Committee, although it still has to overcome three more stages before reaching the plenary. Both states aim to position themselves as pioneers in a race that includes Arizona, Oklahoma, and Texas, where similar projects are advancing rapidly.
The strategy behind these laws is clear: to leverage the economic potential of bitcoin as a store of value, without directly impacting taxpayers' pockets. Jordan Ulery, a legislator from New Hampshire, emphasizes that the initiative is permissive, designed to generate state revenue through investments in cryptocurrency. In Florida, Representative Webster Barnaby described the project as a historic step to position the state at the technological forefront, a message that resonates among those who see bitcoin as a tool for financial innovation.
Interstate competition is not limited to reserves. New Hampshire also passed the Bitcoin Rights Law HB 639, which protects mining, self-custody, and node operation, exempting them from burdensome regulations. Arizona, for its part, green-lighted HB 2342, which shields miners from local restrictions, although its final fate depends on Governor Katie Hobbs, known for her caution towards similar proposals in the past. These efforts reflect a national trend towards legal frameworks that encourage the adoption of crypto assets.
Beyond the economic aspect, the legislative push shows a struggle to attract investments and talent linked to the blockchain ecosystem. States like Kentucky have already set precedents by enshrining digital rights in their legislation, a model that others replicate. However, critics warn of risks such as market volatility and the high energy consumption of mining, debates that will inevitably accompany the approval process of these laws.
As New Hampshire and Florida advance, Arizona discreetly leads with two projects SB 1373 and SB 1025 ready for final voting in the Senate. Texas and Oklahoma are not far behind, with initiatives in advanced stages. This regulatory mosaic not only redefines the role of states in the digital economy but could also influence future federal policies, especially if more jurisdictions join this quiet revolution.