New Hampshire (NH) Governor Chris Sununu’s “Commission on Cryptocurrency and Digital Assets” has released results suggesting that the NH Department of Energy create a public review of how bitcoin mining operations could be integrated into a plan of state energy.
He commission it cites “positive impacts for the electrical system, including contributing to a more stable electrical grid, more sustainable generation projects, and lower costs for consumers in general” as reasoning for this recommendation.
Governor Sununu created the Commission through an executive order in February 2022, which in part stated that “the State of New Hampshire must continue to be an active advocate for financial services innovation and must continue to be an excellent jurisdiction to attract banking and financial businesses of the highest quality. and the well-paid jobs they offered our citizens.”
The findings in this report come a couple of months after the publication of a report titled “Texas Task Force on Blockchain Issues.” Aimed at members of the Texas legislature, it recommended making bitcoin an authorized investment for the state, while giving tax breaks to local BTC miners. Both reports conclude that more research on Bitcoin is needed and indicate that US states are increasingly considering the benefits of adopting Bitcoin.
Also noted in the New Hampshire report was the need for regulation to protect consumers. “A well-regulated cryptocurrency market provides consumer protection and market confidence, which is a boon for investors, the general public, and businesses alike,” appendix B, written by the Office of Regulation, reads. of New Hampshire Securities. “What has become increasingly clear in recent years is that cryptocurrency has a role in regulating securities.”
States like New Hampshire and Texas could end up leading the way in Bitcoin adoption in the US if they decide to follow such recommendations. It is important that Bitcoin users who have ties to the state legislature or are in the Bitcoin ecosystem advocate for continued research into how states can integrate the technology, as states are often much more agile in their ability to adopt new technologies compared to the federal government. .