New Hampshire Governor Signs an Executive Order to Attract Crypto Innovators
The Governor of New Hampshire, Chris Sununu, has signed an executive order that empowers a Governor’s Commission on digital assets. He said governments should try to bring regulatory certainty to these assets to open the road for faster development.
NH Governor Eyes Crypto Innovators Through a Recent Executive Order.
The Governor of New Hampshire has signed an executive order to clear the air for crypto and digital assets innovators. The executive order establishes ‘The Governor’s Commission on cryptocurrencies and digital assets.’
The Commission comprises the Attorney General, a State Senator, a State Representative, the Commissioner of the Bank Department, and three members of the public. The public members are known people with recognizable experience with the crypto space.
The Governor noted that NH is a hub of financial innovation, and the latest executive order will push the State further. It will attract high-quality financial operators more safely and responsibly. He also said that Governments should provide crypto regulations to foster faster innovation.
Crypto Regulation in New Hampshire
New Hampshire is among the few legal areas where the authorities are forging crypto regulations. Digital assets in the State are still a legal grey area, but the Governor is already taking steps to improve the situation. He plans to attract crypto innovators to NH through better regulations.
On Feb. 9, 2022, he released a press release article to the media revealing that he had formed a Commission to deal with the matter. The Commission is tasked with some research work on the assets. It is also to report to the Governor, the Speaker, and President of the Senate in 180 days.
The Commission will perform the following roles:
- Researching and reviewing the current status of digital assets in the State.
- Investigating the current status of any applicable legalities (both International and Federal) that should be followed by banks and businesses offering crypto services.
- Interviewing the public on their experience with the developments in the crypto space.
- Preparing findings on the effectiveness of available regulations on digital assets and why modifications are necessary.
- Coming up with specific modifications to the available laws to support the State’s capacity to regulate them.
- Supporting all proposed crypto regulations
New Developments in Global Crypto Regulation
Most countries in the world are forging crypto regulatory frameworks or researching their potential influence in the current financial sector. Some have already gone public with the developments regarding their crypto adoption and regulatory approaches.
Russia is one of the countries that many are following its crypto regulatory developments. The country plans to legalize cryptocurrencies even though its Central Bank is against them. The government feels that regulations will make cryptos safer for adoption despite the warnings.
The US is also going to release an executive order on cryptocurrency soon. The order is expected to shed some light on the country’s preparations to regulate digital assets. Additionally, more information is leaking regarding the order. On Friday, the Treasury revealed that the order would mostly touch on brokers and spare staking from taxation.
These developments show that the governments are trying to make cryptos safer for adoption. Additionally, it’s prudent to keep an eye on major economies as they will be very influential on the crypto regulation of other countries.
