Support for Bitcoin Mining Energy Initiative from New Hampshire Governor
The "Commission On Cryptocurrencies And Digital Assets" established by New Hampshire (NH) Governor Chris Sununu has produced recommendations that the NH Department of Energy conduct a public examination of how bitcoin mining operations may be incorporated into a state energy strategy.
The commission justifies this suggestion by pointing to "good impacts for the energy system, including contributing to more reliable power grid, sustainable generation projects, and lower prices for customers generally."
An executive order issued by Governor Sununu in February 2022, which stated in part that "the State of New Hampshire should continue to be an active proponent of financial services innovation and should remain an excellent jurisdiction to attract the highest quality banking and financial businesses and the well-paying jobs they offered to our citizens," was the first step in the establishment of the Commission.
The contents of this investigation were published a few months after the publication of the "Texas Work Group On Blockchain Matters" report. It advocated making bitcoin an approved investment for the state of Texas while providing tax incentives to nearby BTC miners in a letter addressed to members of the Texas legislature. Also analyses reach the same conclusion—that more research into Bitcoin is required—and they both show that American states are increasingly taking bitcoin's advantages into account.
The need for regulation to safeguard consumers was also mentioned in the New Hampshire study. According to appendix B, which was created by the Bureau of Securities Regulation of New Hampshire, "A fully regulated cryptocurrency market gives consumer protection, and trust in the market which is a boon to investors, the general public, and companies alike." "Over the past several years, it has become increasingly obvious that bitcoin plays a role in securities regulation."
If these recommendations are followed, states like New Hampshire and Texas may wind up setting the pace for Bitcoin acceptance in the United States. As states are frequently considerably more quick to adopt new technologies than the federal government, it is crucial for Bitcoiners who have connections to state legislatures or are active in the Bitcoin community to support ongoing research into how states may integrate the technology.
Article Credit: BeInCrypto
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