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New Hampshire State Governor Launches Crypto Study Commission

By:
Sujha Sundararajan
Updated: Feb 11, 2022, 13:33 UTC

The cryptocurrency panel will investigate the current status of the crypto industry and the technology and laws surrounding digital assets.

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The U.S. state of New Hampshire is deep-diving into crypto research and study. The state’s governor Chris Sununu has set up a new state commission on cryptocurrencies and other digital assets.

Lawmaker Issues Executive Order

The governor signed an executive order on Wednesday, that seeks to conduct a review and investigation regarding “the current status of the cryptocurrency and digital asset industry.” The panel will also study the underlying technologies that support developments in the industry.

The rising use and acceptance of cryptocurrencies and a much-needed regulatory regime have contributed to establishing the crypto commission. Sununu named Bitcoin, Ethereum, Binance Coin, Tether and USD Coin are rapidly “gaining momentum.”

The state and federal government “must work to bring legal and regulatory certainty” to the burgeoning industry, the Republican lawmaker said in the order.

“[Cryptocurrency] is complex and a lot of people are buying and selling it on the market. But it is a currency that doesn’t have a whole lot of regulation around it,” The Granite State’s governor said during a press briefing.

Additionally, Sununu wants to know the “effectiveness” of current state laws and regulations governing cryptos. He also wants to make findings on the effect of regulations on innovation, use, privacy, and liberty rights.

“This Executive Order will further our commitment to attracting high-quality banking and financial businesses in a safe and responsible manner,” said the governor.

The 12-member commission comprises the Attorney General, banking regulators, crypto experts, state senate representatives, and several other appointees by the governor’s office.

Sununu has given the team a six-month time – till August 8, 2022 – to submit a report containing findings and recommendations to the administration and legislative leaders.

The governor will add another six members to the commission, three of whom with crypto experience.

State Governors Become Crypto Buff

Lawmakers in U.S. states are increasingly embracing cryptocurrency, like passing laws to encourage crypto use, possibly due to a vague regulatory framework at the federal level.

For instance, Tennessee lawmaker Jason Powell introduced two bills on Thursday, to allow crypto investments from all counties, municipalities, and the state.

Florida Gov. Ron DeSantis went the extra mile, allowing businesses to pay state fees with cryptocurrencies.

At the start of the year, New York City Mayor Eric Adams confirmed that he would receive his first three paychecks in Bitcoin. Adams joined Miami City Mayor Suarez and Tampa Mayor Jane Castor, both of whom said that they would take Bitcoin salaries.

The New York and Miami cities have launched their very own CityCoins – MiamiCoin, which became the first to step foot into the market, and NewYork Coin (NYC Coin).

About the Author

Sujha Sundararajan is a writer-journalist with 7+ years of experience in Blockchain, Cryptocurrency and in general, FinTech news reporting. Her articles have featured in multiple journals such as CoinDesk, Protos, Bitcoin Magazine, CCN, Asia Blockchain Review, BeInCrypto and EconoTimes to name a few. She holds a Master’s in Journalism from the Indian Institute of Journalism and New Media and is also an accomplished Indian classical singer.

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