A bill that would allow New Hampshire to invest a portion of its state funds in digital assets and precious metals has advanced to a full Senate vote after passing a second committee.

On April 23, House Bill 302 (HB 302) was reviewed in the second Senate committee and passed in a 4-1 vote.

The legislation, introduced in January, cleared the New Hampshire House earlier this month in a 192–179 vote. It now faces a vote by the full Senate and, if approved, will require the governor’s signature to become law.

Once enacted, it would allow the New Hampshire treasury to use 10% of the state’s general funds to invest in crypto with a market cap of over $500 billion — a threshold currently met only by Bitcoin (BTC).

Source: Bitcoin Laws

Democratic representative opposes New Hampshire’s crypto reserve bill  

During a debate before the full House vote, Democratic Representative Terry Spahr argued that the bill is unnecessary. 

The lawmaker said it could undermine the future security of the state’s digital asset stockpile. Spahr argued that the state treasurer already has the authority to manage investments without the bill.

Others said that it could earn the state good returns for its investment. Republican Representative Jordan Ulery said the investments could net the state a “large amount of money.”

Related: US federal agencies to report crypto holdings to Treasury by April 7

Bitcoin Laws, which tracks the progress of digital asset legislation, shows that New Hampshire also has two more blockchain-related bills going through its legislature. 

HB 639 addresses blockchain dispute resolution and regulatory frameworks, while HB 310 focuses on real-world asset tokenization and stablecoin usage.

New Hampshire’s progress comes as Arizona pursues a more aggressive approach by exploring the creation of a strategic Bitcoin reserve, aiming to become the first US state to implement the policy.

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