The New Hampshire Bitcoin (BTC) Reserve Bill will be submitted for a full vote in the Senate.

Source: Cointelegraph Original: "The New Hampshire Bitcoin (BTC) Reserve Bill will be submitted to the full Senate for a vote"

A bill allowing New Hampshire to invest a portion of state funds in digital assets and precious metals has entered the full Senate voting stage after passing the second committee review.

On April 23, House Bill 302 (HB 302) was reviewed in the second Senate committee and passed with a vote of 4 to 1.

The bill proposed in January was passed earlier this month in the New Hampshire House of Representatives by a vote of 192 to 179. The bill will now face a vote in the full Senate, and if passed, it will require the governor's signature to become law.

Once the bill comes into effect, it will allow the New Hampshire Treasury to allocate 10% of the state's general fund for investments in cryptocurrencies with a market capitalization exceeding $500 billion—currently, only Bitcoin (BTC) meets this threshold.

During the debate before the full House vote, Democratic representative Terry Spahr argued that the bill is unnecessary.

The legislator stated that the bill could undermine the future security of the state's digital asset reserves. Spahr pointed out that the state treasurer already has the authority to manage investments without the bill.

Others have stated that this investment could bring substantial returns to the state. Republican representative Jordan Ulery claimed that these investments could bring "a lot of money" to the state.

Bitcoin Laws, which tracks the progress of digital asset legislation, shows that New Hampshire currently has two blockchain-related bills in the legislative process.

House Bill 639 involves blockchain dispute resolution and regulatory framework, while House Bill 310 focuses on the tokenization of physical assets and the use of stablecoins.

As relevant work progresses in New Hampshire, Arizona is taking a more aggressive approach to explore the establishment of a strategic Bitcoin (BTC) reserve, aiming to become the first U.S. state to implement this policy.

Related news: Arizona cryptocurrency reserve bill passed by House committee, enters third reading process.