PANews reported on April 11 that, according to Cointelegraph, New Hampshire and Florida have made new progress in Bitcoin reserve legislation. On April 10, the New Hampshire House of Representatives passed HB302 with 192 votes against 179 votes and has been submitted to the Senate for review. The state becomes the fourth state to pass a Bitcoin reserve bill in one chamber after Arizona, Texas, and Oklahoma. If HB302 is passed by the Senate and signed by Governor Kelly Ayotte, the state treasurer will be able to invest 10% of the state's general fund and other authorized funds in precious metals and specific digital assets, with the bill also clarifying the asset custody method. The bill stipulates that only cryptocurrencies with a market capitalization exceeding $500 billion can be invested, currently only Bitcoin meets the conditions.
On the same day, the Florida House Insurance and Banking Committee unanimously passed the state's Bitcoin reserve bill HB487, which still needs to go through three committees before being submitted to the state House of Representatives. Similar to the New Hampshire bill, HB487 allows the Florida Chief Financial Officer and State Administrative Committee to invest 10% of state funds (including general revenue fund and budget stabilization fund) in Bitcoin. The bill also grants the state financial supervisor the right to invest in digital assets directly or through qualified custodians or exchange-traded products, and details security and custody requirements.
