Two months ago, Live Bitcoin News published an article discussing a new set of crypto regulations that were being unveiled by the state of New Jersey. Now, it appears New Hampshire is looking to follow in the region’s footsteps. Citing the FTX debacle as a massive wakeup call, New Hampshire is now looking to implement laws that will oversee trading and activity surrounding bitcoin and all related digital assets.
New Hampshire Is Next to Implement Crypto Laws
A new 67-page report issued by Governor Chris Sununu explains 12 specific steps he wants regulators to take when it comes to making New Hampshire not only safe for current crypto investors, but also more attractive to companies and tech firms delving in digital assets and blockchain. Sununu has stated that he would like New Hampshire to become one of the biggest crypto havens in the U.S.
In a statement, he commented:
This report is comprehensive and timely, providing specific recommendations that would establish New Hampshire as a leading jurisdiction for the development of sound and effective applications of blockchain technologies, including proposals to clarify current laws and to support law enforcement in its efforts to protect New Hampshire consumers and investors.
Bill Ardinger – a lobbyist and lawyer who works primarily in taxation and financial law – has stated that he and his constituents met with several experts prior to the completion of the report, which he worked on. He said:
It is safe to say that many of the same human frailties that led to the myriad of other human speculative boom and bust cycles will turn out to be present at the core of the current crypto industry uncertainty… Indeed, certain aspects of these technologies, including some of the aspects that make them potentially useful and important, may also render them particularly effective vehicles for fraud, although that behavior is not unique to these technologies.
According to the report, the state of crypto regulation in the state of New Hampshire is “unclear, and therefore unsatisfactory.” It concludes with:
This uncertainty is no reason to fail to pursue necessary clarification. In fact, it is a strong call to action by policymakers.
The Fall of an Empire Caused Many Eye Openings
FTX has caused many people to view the crypto space in a different way. Following the collapse of the now defunct crypto exchange, many members of Washington’s political elite have called for the regulation of the space, claiming they’re eager to enforce protections for traders and crypto investors throughout the nation.
The problem with this, however, is that many members of the politically elite ladder accepted funds from FTX and its chief executive Sam Bankman-Fried, and it’s hard to believe that given their close relationships to the exchange, they didn’t see the alleged fraud that was potentially occurring behind closed doors.
