NH State House Crypto Commission Member to File Bill Repealing Lone Regulation of Cryptocurrency

Representative Barbara Biggie of Milford

Representative Barbara Biggie of Milford Vows to File Bill Repealing NH’s Lone Cryptocurrency Regulation

A week after their first meeting, the “Commission to Study Cryptocurrency” has made their official recommendation to the full legislature. In the conclusion of this week’s meeting, commission chairman and state representative John Hunt of Rindge said, “Some states have done a lot of regulation. New Hampshire has chosen the seemingly most de minimis regulatory authority of what all the states have done. Obviously, the maximum de minimis would be to repeal what we’re doing and that can be left up to the next legislature. But at this time, this committee will take no position on what is the right answer.”

However, when asking each commission member what they want to do, representative Barbara Biggie of Milford said her concern is that regulation will “snuff the industry, the cryptocurrency industry in New Hampshire and around the country, so I think we should stay out of it right now, regulating-wise”. Hunt asked Biggie if she’d sponsor a bill to repeal the lone existing regulation which authorizes the banking department to license businesses as “money transmitters” who transmit “convertible virtual currency”, and she said she would!

While banking department representative Maryam Torben-Desfosses claimed they are not considering Bitcoin Vending Machines or businesses or individuals who accept and spend bitcoin as “money transmitters”, that did not assuage the concerns of the bitcoiners in the room. Those who attended the previous meeting were surprised at Desfosses’ claim that attendees at the last meeting saw value in the banking department’s regulation. Just in case the state representatives also misremembered the last meeting’s public comments, the people at this meeting (which included new faces from last time) again spoke firmly against any regulation whatsoever.

It’s frequently said that working inside the system is a waste of time, but in New Hampshire many state reps will listen to you and showing up and being heard absolutely made a difference here. That said, we need more liberty-oriented crypto-enthusiasts to move here and get active. Please join the Shire Society today and start planning your move to New Hampshire.

You can watch the full second (and final for 2016) meeting of the commission here:

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10 comments
WEEDA CLAUS
WEEDA CLAUS

According to the mythical and magical constitution Congress has the power to coin money and regulate the value thereof. That means they can regulate the value of money they coin, because a piece of paper nobody alive today ever agreed to says they can.


Let's see, I just drew up a "contract" between me and the natural world, which gives me the power to regulate the weather.  I hereby decree that it will snow this winter and will melt in the spring.  Now, THAT is political power!

Integrals
Integrals

@Jumping Jacks @Integrals No the question was what would YOU do without government (answer: shit your pants).  You seem to beLIEve in a lot of stupid shit...

Jumping Jacks
Jumping Jacks

The government has the last say about Cryptocurrency.  Businesses who accept bitcoin still have to report it on their income taxes. So basically it is just a redundant currency. The government can say, "No bitcoin" or apply a large tax to bitcoin.  This little commission really is a waste of taxpayer money. 

Drac Vermell
Drac Vermell

@Jumping Jacks  Before 1933, when commodities such as gold and silver could still be used as legal tender, paper money could be considered "redundant" as well. So what exactly is your point here, Jacks? Perhaps you should have played it safe and just stayed with calling bitcoins "volatile" like you usually do.

You are correct about one thing though, Jacks - this committee is most certainly a waste of taxpayer money. But government committees were inevitable here. They're always the first step towards more regulations. This is what you want, isn't it Jacks?

Jumping Jacks
Jumping Jacks

@Drac Vermell @Jumping Jacks Peaches, You can call federal notes anything you want. Unfortunately for you they are the norm and will continue to be the norm. Yes, bitcoin is volatile. How can you say this community is what I want when I stated it is a waste of taxpayer money? Again you choose to put words in my mouth that were never there. Your statements are very poor at best. I hope you learned a lesson from this. 

WEEDA CLAUS
WEEDA CLAUS

@Jumping Jacks @Drac Vermell


So because fiat paper is normal, it's good?


Slavery was the norm at one time too wasn't it ?


Something which occurs on a frequent basis can be normal, yet what occurs on a frequent basis, enough to be "normal"  offers no evidence that it should happen or is good.  It simply means it's something which reoccurs.  It was also normal to throw virgins in volcanoes, to make the whatever grow, but again, normality offers no justification of an act. 


It's normal for people to accept overlords preventing them from exercising self ownership or sycophants like you to try to justify shitty things done in the name of obedience to your overlords, which if you or I did those same acts as individuals they would be seen as criminal acts. 


So, yeah...normal...check your premise.

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