The office of New Hampshire Governor Chris Sununu published a report on crypto and blockchain technology. Among other things, he recommends that the Department of Energy investigate the potential benefits of bitcoin mining.
New Hampshire Governor Chris Sununu’s office issued a press release on January 19th regarding cryptocurrencies. The governor discusses the benefits of blockchain technology and its potential impact on the economy. It primarily favors technology, although it has proposals to clarify laws and support law enforcement to protect local investors.
There are three major findings of the report. The first is that blockchain technology potentially has many important applications in society and the economy. The second is that the legal and regulatory status of technology is uncertain, which undermines innovation and economic growth. Finally, the New Hampshire government believes that the government should devote resources to making the area a center of growth.
One of the most important recommendations is that the Department of Energy review “how bitcoin mining operations can be integrated into the statewide energy plan.” It examines how this could result in a stable electricity grid, more sustainable generation projects and lower consumer costs. He also called for a review of the environmental impacts of bitcoin mining.
With regard to the need for policy and legal development, the report states,
“The Commission is of the view that this next phase of development… must be accompanied by improvements in the legal infrastructure… Such legal and policy reforms must ensure that people participating in this new sector are accountable for their actions… They must also ensure that participants have clear information and an understanding of all legal regulations that apply to their activities.”
This is a big step forward for New Hampshire, which has already shown enthusiasm for cryptocurrencies. Governor Sununu has been at the center of those discussions.
New Hampshire Governor Sees Potential In Blockchain And Bitcoin Mining
Governor Sununu has made it clear that he thinks there are benefits to blockchain technology and cryptocurrencies. In fact, he established the Governor’s Commission on Cryptocurrency and Digital Assets, indicating a strong desire to act.
The commission examines technology and its implementation, while protecting investors and complying with regulations. Sununu is eager to make New Hampshire a hub of financial innovation, and blockchain technology is key.
Regulation is a hot topic in government right now, and New Hampshire is leading the way. Of course, there could be more changes after the collapse of FTX.
NH trying to attract new businesses
Governor Sununu’s enthusiasm for crypto is matched by other lawmakers. In March 2022, a financial reform saw New Hampshire become the first to adopt a draft federal Universal Commercial Code, which has implications for cryptocurrencies.
The state government passed a bill related to UCC. This makes it easy to buy and sell cryptocurrencies. These are the first steps that can make the state the center of finance.
BeInCrypto has reached out to the company or individual involved in the story for an official statement regarding the recent developments, but has not yet received a response.