NH Lawmakers Advance Proposed Bitcoin MSB Exemption

Legislators in New Hampshire have advanced a bill aimed at carving out regulatory exceptions for certain bitcoin businesses, public records show.

As reported by CoinDesk last month, New Hampshire’s HB 436 seeks to create a regulatory exception for persons “using transactions conducted in whole or in part in virtual currency” who may otherwise be considered money transmitters under current laws.

Sponsored by state rep Barbara Biggie – with Representative Keith Ammon as a co-sponsor – the bill was passed along to the NH House Commerce and Consumer Affairs Committee. On 16th February, according to LegiScan, an 11-9 majority of the committee approved the bill to advance to the House floor for a vote, the date of which is not immediately apparent.

The bill also seeks to update the state’s definitions for virtual currency with a revised version that would read:

“‘Virtual currency’ means a digital representation of value that can be digitally traded and functions as a medium of exchange, a unit of account or a store of value, but does not have legal tender status as recognized by the US government.”

Despite the movement, however, there’s no guarantee that the bill will pass.

Legislators in the state have expressed a degree of aversion to the tech in the past, killing a bill proposed last year that, if passed, would have allowed state citizens to pay their taxes in bitcoin.

Image via Shutterstock

New HampshireRegulation

Comments

comments

Filed in: Bitcoin Buzz Tags: ,

You might like:

Downplaying 'Digital Assets': Blockchain Reigns at Ripple's Swell Event Downplaying 'Digital Assets': Blockchain Reigns at Ripple's Swell Event
Retirement investing: Is a bitcoin IRA right for you? Retirement investing: Is a bitcoin IRA right for you?
Goldman Says Gold Beats Bitcoin as Bank Weighs Fear and Wealth Goldman Says Gold Beats Bitcoin as Bank Weighs Fear and Wealth
Standard Chartered Joins EquiChain's Capital Markets Blockchain Pilot Standard Chartered Joins EquiChain's Capital Markets Blockchain Pilot
Former Bitmain Chip Designer Seeks to Revoke Mining Giant's Patent Former Bitmain Chip Designer Seeks to Revoke Mining Giant's Patent
The New Classic? Protesters Are Already Plotting Alternative Ethereums The New Classic? Protesters Are Already Plotting Alternative Ethereums
Forget Ethereum Or Bitcoin, This Crypto Is Where Money Will Be Made Forget Ethereum Or Bitcoin, This Crypto Is Where Money Will Be Made
Bitcoin Shows Its Power, Rallies To All Time Highs Bitcoin Shows Its Power, Rallies To All Time Highs
© 2017 Virtual Mining Bitcoin News. All rights reserved. XHTML / CSS Valid.