New Hampshire House Bill 436 is slated to take effect next week on August 1st. The bill exempts bitcoin from regulatory action and prevents New Hampshire bitcoin businesses from having to register as a money transmitter. The bill flies in the face of previous New Hampshire regulation that targeted bitcoin for harsh regulation. The bill was signed by New Hampshire governorJohn Sununu on June 2. <\/p>\n
Also read:Suspension Lifted: Japanese Exchanges and Merchants Resume Bitcoin Services <\/p>\n<\/p>\n
Bitcoin.com wrote about the bill back in June, saying, The bill provides bitcoin with clearprotection from debilitatingand Orwellian regulations. The bill states that anyone who uses a virtual currency is exempt from having to register as a money transmitter. This is important news for a State that vouches for being one of the freest places to live in the U.S. <\/p>\n
Previously in New Hampshire, a bill was introduced that added bitcoin to the money transmitter status. As a bill that reduced peoples economic freedom, this piece of legislation came as sort of an embarrassment to local activists. However, it appears the activists and politicians who supported it simply were not prepared. Ian Freeman, writing for Free Keene, expressed this view: <\/p>\n
How did this happen in a state with the largest concentration of bitcoin enthusiasts per capita? Honestly, we were caught off-guard, but now thats all changed. In 2016 a state house committee to study cryptocurrency was formed, whose meetings I attended andvideo recordedThis is further proof of the effectiveness of the active, growinglibertarian migration to New Hampshire, many of whom are bitcoin\/crypto enthusiasts. <\/p>\n
Even though HB436 is now being passed with enthusiasm and joy across most of the State, not everyone in government agreed with the bill. The House of Representatives and Senate in New Hampshire were divided. Their decision was based on a 185 to 170 vote. Allegedly, several bankers and New Hampshire officials spoke against the bill, saying it would impede their jobs, making it more difficult to detect fraud and apprehend criminals. <\/p>\n<\/p>\n
Is a deregulated Bitcoin a good thing? Do you think other States will follow the exampleset by New Hampshire? Let us know in the comments section below. <\/p>\n
Images courtesy of Shutterstock <\/p>\n
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New Hampshire's Bill to Deregulate Bitcoin Effective Next Week - Bitcoin News (press release)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" New Hampshire House Bill 436 is slated to take effect next week on August 1st. The bill exempts bitcoin from regulatory action and prevents New Hampshire bitcoin businesses from having to register as a money transmitter. The bill flies in the face of previous New Hampshire regulation that targeted bitcoin for harsh regulation. Continue reading