The New Hampshire cryptocurrency law is fintech-startup-friendly.
Lawmakers passed a statute that fertilizes the state’s legal soil for blockchain and virtual currency businesses.
New Hampshire Cryptocurrency Law: Registration Exemptions
Granite State legislators updated existing regulations that currently require “money transmission companies” and certain financial professionals to register with a regulatory body. The new law removes this requirement for parties engaged “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.”
New Hampshire Cryptocurrency Law: Fixed 2015 Measure
The latest statute fixed a 2015 measure that chucked cryptocurrency businesses under the purview of state banking authorities, making New Hampshire unattractive to emerging fintech operations. At least one company fled the state on account of the 2015 vote.
New Hampshire Cryptocurrency Law: Close Vote
Not a runaway decision, lawmakers were split on the latest New Hampshire cryptocurrency statute, garnering a 185-170 vote in the house, and a 13-10 count in the Senate.
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Doherty, B. (2017, June 13). New Hampshire Exempts Bitcoin and Other Virtual Currency Businesses from Money Transmitter Regulation. Retrieved September 05, 2017, from http://reason.com/blog/2017/06/13/new-hampshire-exempts-bitcoin-and-other