New Hampshire becomes the first state to approve the cryptoassets reserve bill | CoinDesk JAPAN

• New Hampshire, USA, has won the competition among states in the United States to pass a law allowing public funds to be invested in cryptoassets (virtual currencies) reserves.
• Similar initiatives have recently stalled in states like Arizona and Florida.
• New Hampshire will be able to invest 5% of public funds into Bitcoin.

On May 6, New Hampshire became the first state in the United States to allow public funds to be invested in cryptoassets after the governor signed a new law.

New Hampshire has taken the lead over other states as various initiatives that began in different states have stalled in recent weeks due to the growing momentum among state legislators. As the first state to permit the establishment of such reserve funds by its treasurer, New Hampshire may also pave the way for the development of cryptoasset reserves ahead of the U.S. federal government.

“New Hampshire has once again become the first in the nation,” tweeted Republican Governor Kelly Ayotte in her first year in office.

Under the new law in New Hampshire, it will be allowed to invest up to 5% of public funds in digital assets with a market capitalization of over $500 billion (approximately 72 trillion yen, based on an exchange rate of 1 dollar = 143 yen), and currently, the only asset that meets this requirement is Bitcoin (BTC).

“I am very excited about the victory in New Hampshire,” said Dennis Porter, founder of the Satoshi Action Fund, which is advocating for the establishment of cryptoasset reserves with state legislators. In an interview with CoinDesk, Porter expressed his hope that other states will follow suit.

“The first step is overwhelmingly the hardest. If there are states that have already taken action, the political momentum will increase.”

Republican House members from New Hampshire proudly posted on X on the 6th, stating that their state is “the first state to lay the foundation for a strategic Bitcoin reserve.”

“The state that embodies the motto ‘Live free or die’ (New Hampshire) is a leader in pioneering the future of commerce and digital assets.”

Arizona was the first state to submit a similar bill to the state governor, but this bill was rejected. However, there are other bills waiting for the governor’s review. Florida also withdrew its own initiative, joining many other states where reserve promotion efforts have stalled. However, North Carolina, which is supported by prominent legislators, remains a strong candidate.

President Donald Trump had been calling for the establishment of a unique Bitcoin reserve and a separate cryptoassets reserve, but the Treasury Department is still reviewing which funds held by the federal government will ultimately be allocated for the reserves.

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