Home CryptocurrencyAltcoin The New Hampshire government has issued a report on blockchain by executive order

The New Hampshire government has issued a report on blockchain by executive order

by SuperiorInvest

New Hampshire’s governor has released a report on the commission he created by executive order last year to recommend legislation related to digital assets and blockchain.

In a January 19 announcement, Chris Sununu he said The Cryptocurrencies and Digital Assets Commission said the legal and regulatory status of cryptocurrencies and digital assets is “highly uncertain”, hindering development and leading to less protection for investors and consumers.

The group recommended that New Hampshire implement a state legal regime aimed at attracting blockchain firms and individuals. Specifically, it recommended the creation of a legal statute for Decentralized Autonomous Organizations, or DAOs; injecting funds into the state court system to resolve disputes related to blockchain issues; and encouraging the government’s banking department to provide “clear, public and proactive guidance” on how financial institutions can handle digital assets.

According to a report sent to the governor on December 22, the commission considered the human factor in its recommendations, alluding to the collapse of FTX and the arrest of its former CEO Sam Bankman-Fried – i.e. “a criminal fraud resulting in the loss of billions of dollars in customer assets”.

“New Hampshire should take strong proactive and public steps to build a better legal infrastructure for the healthy development of Blockchain technologies and their applications,” the report reads.

The message ended like this:

“The commission expects that blockchain technologies will continue to evolve and develop and become more integrated into our society and economy. […] this next phase of development should not only be accomplished through innovations in computer software protocols, but should also be accompanied by improvements in the legal infrastructure that necessarily runs parallel to these activities.

Related: A Tennessee lawmaker has introduced a bill that would allow the state to invest in cryptocurrencies

Sununu called the report “comprehensive and timely.” Other US state governors do made efforts to ensure regulatory clarity for crypto and blockchain, including California, while New York Governor Kathy Hochul does was behind the proposal ban cryptocurrency mining operations that are not based on 100% renewable energy.

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