NH Governor Signs Bill Protecting Bitcoin & Cryptocurrency From Regulation!

Bitcoin NH License Plate

Now Protected in NH

On Friday, New Hampshire’s new governor Chris Sununu signed a bill, HB 436, which makes NH the first state to explicitly protect cryptocurrency like Bitcoin from regulation!

This is a historic day and this move clearly positions New Hampshire as the most bitcoin-friendly state in the United States. NH was already the #1 most free state according to the “Freedom in the 50 States” study and this makes it even more free. New Hampshire also now stands in even more stark contrast to New York, the least free state, since New York a couple years ago did the opposite and attacked cryptocurrency businessess with their oppressive “bitlicense”, which drove bitcoin businesses OUT of NY. Now those businesses can escape safely to NH as this just-passed bill offers them a safe haven from the ravaging, destructive effects of government interference.

NH’s new cryptocurrency protection language is very simple and clear. It adds an entry to the money transmitter statutes that exempts:

Persons who engage in the business of selling or issuing payment instruments or stored value solely in the form of convertible virtual currency or receive convertible virtual currency for transmission to another location.

Liberty Lobby‘s Darryl W Perry, who headed up a campaign to contact the governor about this issue said, “After nearly three years of trying to get virtual currency explicitly exempt from money transmitter laws in the Live Free or Die State, I am happy to see this first major obstacle cleared.”

In 2015, a bill (HB 666) was passed that spooked many in the international bitcoin community as it added cryptocurrency to the “money transmitter” statutes. This caused at least one bitcoin business to cease doing business with customers in New Hampshire and quite a bit of buzz about New Hampshire losing its vaunted crytpo-friendly status. How did this happen in a state with the largest concentration of bitcoin enthusiasts per capita? Honestly, we were caught off-guard, but now that’s all changed. In 2016 a state house committee to study cryptocurrency was formed, whose meetings I attended and video recorded.

Representative Barbara Biggie of Milford

Representative Barbara Biggie of Milford, Sponsor of Bitcoin Protection Bill

After hearing from multiple NH bitcoiners in the committee meetings, state representative Barbara Biggie stepped up and filed this bill. As Darryl and I pointed out at the hearing, the bill as filed wasn’t quite what we’d hoped for. It created a new definition and exemption for “virtual currency” in the statutes, but still left in statutes a definition and regulation for “convertible virtual currency”. We explained to them that this was confusing and they should be striking the regulation for “convertible virtual currency” rather than creating the additional terminology.

You know what? They listened AND did us one better! The commerce committee amended the bill and turned it into the best possible protection for bitcoin businesses in New Hampshire!

This is further proof of the effectiveness of the active, growing libertarian migration to New Hampshire, many of whom are bitcoin/crypto enthusiasts. Thanks to the liberty activists here, we have several Bitcoin Vending Machines spread across the state, Keene has more bitcoin-accepting businesses per capita than anywhere in the world, crypto meetups happening statewide every week, and now this excellent crypto protection from the state government.

Things are only going to get better here and more free as more people who love liberty and cryptocurrency move here. If you’re not already planning your move, you really owe it to yourself to spend an hour and watch this documentary, “101 Reasons Liberty Lives in New Hampshire“. You can connect with people who are planning to move and those already here over on the Shire Forum, which has crypto-related subforums. Please stay tuned here to Free Keene for the latest on the cryptocurrency scene here in the Shire.

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  1. This is awesome and wonderful news… Thanks for the great update on this. Really happy to hear this. Congrats on the great work for doing this. GO NH !

  2. Tell Poloneix for us please! Thank you for your service.

  3. This is at a state level not a federal level. The government at anytime can say bitcoin is not to be used. It doesn’t matter what it says at the state level.

  4. States created the federal government……so when did the servant become master of its creator?

  5. Then the legislature can just nullify the law.

  6. By definition, it matters at the state level. For example, the New York example mentioned in the 2nd paragraph.

  7. Why are you so bitter about this, Jacks? I would have thought that by now you’d be quite used to the taste of defeat. It’s a right shame that this foolish pride of yours stops you from fully enjoying the fundamental rights NH’s liberty activists have helped you to keep, now isn’t it?

    Oh, and Jacks? You really should be more mindful here. Cryptocurrencies are becoming increasingly popular these days and NH’s decision to deregulate some of them could very well become de rigueur in other states as well. You might want to start preparing yourself for that eventuality sooner rather than later.

  8. Law doesn’t take effect until August 1st. Celebration is too soon just like everything else here. Currently NH is one of the absolute worst states for crypto freedom.

  9. Phh- in some respects the feds are weak. They could do a lot of things- but the reality is the state has more power and capacity to crack down at the local (or state) level than the feds. That is why legalizing marijuana has worked at the state level in spite of feds continuing to criminalize it. It is effectively legal because the feds do not have the resources to crack down on every marijuana user across the United States. It was only the cooperation of the states that has been “effective” and even that hasn’t really worked as marijuana use has grown- not shrunk since the beginning of the drug war.

  10. The states have to stop cooperating with the federal government like they have with marijuana and then get the balls to stop their citizens from financing the federal government en mass. It would probably take a few of the wealthier states pulling out to effectively bring an end to the federal government.

  11. This is what it’s all about – freedom. This will allow the market to regulate itself; exactly what it needs to do. Innovation will be born from this and bring new businesses to NH. We need less regulation and this, this is amazing news for cryptcurrency. Excellent.

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