New Hampshire (NH) Governor Chris Sununu’s “Cryptocurrencies and Digital Assets Commission” has produced results that suggest the NH Department of Energy conduct a public review of bitcoin mining operations to be integrated into the state’s energy plan.
The commission cited “positive impacts for the electricity system, including contributions to a more stable electricity grid, more sustainable generation projects, and lower costs for consumers in general,” as the reason for this recommendation.
Governor Sununu created the Commission through an executive order in February 2022, which reads in part that “The State of New Hampshire must continue to be an active supporter of financial services innovation and must remain a good jurisdiction to attract banking and financial businesses of the highest quality. and jobs that well paid for our residents.
The report’s findings come months after the release of a report titled “Texas Work Group On Blockchain Matters.” Directed to Texas legislators, it recommended that bitcoin be a legal investment for the state, while providing tax incentives for local BTC miners. Both reports conclude that further research on Bitcoin is necessary, and show that American states are increasingly considering the benefits of embracing bitcoin.
Also highlighted in the New Hampshire report is the need for regulation to protect consumers. “A well-regulated cryptocurrency market provides consumer protection, and confidence in the market which is a boon for investors, the general public, and businesses alike,” reads appendix B, written by New Hampshire’s Bureau of Securities Regulation. “What has become increasingly clear over the past few years is that cryptocurrency has a role to play in securities regulation.”
States like New Hampshire and Texas could pave the way for Bitcoin adoption in the US if they follow these recommendations. It is important for Bitcoiners who have a relationship with state legislatures or are in the Bitcoin ecosystem to encourage them to continue to ask questions about how the state can integrate the technology, because states are often more agile in their ability to use new technologies compared to the federal government. .