New Hampshire gov releases report on blockchain following executive order
The governor of New Hampshire has launched the report of a fee he shaped by govt order final yr to advocate laws round digital property and blockchain.
In a Jan. 19 announcement, Chris Sununu said the Fee on Cryptocurrencies and Digital Belongings had reported that the authorized and regulatory standing of cryptocurrencies and digital property was “extremely unsure,” stymying growth and resulting in much less safety for traders and shoppers.
The group beneficial New Hampshire set up a state authorized regime aimed toward drawing in blockchain companies and people. Particularly, it beneficial establishing authorized standing for decentralized autonomous organizations, or DAOs; placing funds into the state’s court docket system for resolving disputes involving blockchain points; and inspiring the federal government’s banking division to offer “clear, public and proactive steerage” on how monetary establishments could deal with digital property.
Based on the report, despatched to the governor on Dec. 22, the fee considered the human consider its suggestions, alluding to the collapse of FTX and the arrest of its former CEO Sam Bankman-Fried — i.e. “legal fraud ensuing within the lack of billions of {dollars} of buyer property”.
“New Hampshire ought to take sturdy pro-active and public steps to construct a greater authorized infrastructure for sound growth of Blockchain applied sciences and its functions,” the report sai.
The report concluded with the next:
“The Fee expects that Blockchain applied sciences will proceed to evolve and develop, and grow to be extra built-in into our society and financial system […] this subsequent section of growth ought to be achieved not solely via improvements in laptop software program protocols, but in addition ought to be accompanied by enhancements within the authorized infrastructure that essentially operates in parallel with these actions.”
Associated: Tennessee lawmaker introduces invoice which might enable state to put money into crypto
Sununu referred to the report as “complete and well timed”. Different U.S. state governors have pushed efforts to determine regulatory readability for crypto and blockchain, together with California, whereas New York Governor Kathy Hochul has stood behind a proposal to ban crypto mining operations not primarily based on 100% renewable power.
