Summary
- The governor of New Hampshire has enacted the Blockchain Basics Law, which aims to enhance protections for blockchain technology and cryptocurrency users in the state.
- Last year, New Hampshire became the first state in the U.S. to establish a strategic Bitcoin reserve, permitting up to 5% of public funds to be allocated to Bitcoin investments.
- However, the executive council recently declined a proposal for the first Bitcoin-backed municipal bond.
Governor Kelly Ayotte of New Hampshire has positioned the state as a leader in cryptocurrency by signing HB 639 into law last week.
This legislation, referred to as the Blockchain Basic Laws, introduces safeguards for cryptocurrency innovation and usage, while also establishing a specialized blockchain dispute docket within the superior court.
"With the signing of HB 639 by Governor Ayotte, New Hampshire reaffirms its commitment to spearheading blockchain innovation in the nation," stated Representative Keith Ammon, the primary sponsor of the bill.
He further remarked, "The Blockchain Basic Laws uphold a fundamental right in the digital economy—the ability for individuals to manage their own digital assets through self-custody. They also ensure legal protections for blockchain developers, miners, validators, entrepreneurs, and businesses that are pioneering the future of financial technology."
This new legislation builds on the state's previous initiative to establish a strategic Bitcoin reserve, which was signed into law by Ayotte in May 2025. This bill authorizes the state treasurer to invest as much as 5% of public funds into Bitcoin, alongside investments in precious metals like gold and silver.
Ammon, who was instrumental in the passage of the Bitcoin reserve bill, shared with Decrypt that it was “a small measure to help our state mitigate future inflation.”
“With the approval of HB 639 today, we have made significant progress by instituting one of the most extensive blockchain rights laws in the country,” he added. “Entrepreneurs, investors, developers, and innovators throughout the United States should recognize that New Hampshire welcomes blockchain enterprises.”
Despite these advancements, the state’s executive council recently rejected a plan that would have permitted the New Hampshire Business Finance Authority to facilitate a municipal bond backed by Bitcoin.