New Hampshire Bitcoin bill signed into law

[Keith and stuff]

The New Hampshire Bitcoin/ virtual currency bill was signed into law.

I know this isn't a big deal to most people here, but some people were worried about a regulation that passed in NH in 2016. While the regulation had never been enforced, it could have been enforced in theory, and that was bad news. NH is #1 in both Bitcoin usage and in Bitcoin acceptance, so this could have caused problems and did cause some concern around the industry.

Even though the regulation had never been enforced, Democrats in the NH Senate went on at length about how Bitcoin is about killing people, illegal drug use, and gangsters. I'm not even kidding! Thankfully, the Republican sponsors and the strong Bitcoin community in the state were able to get the bill to the Governor's desk. HB 436 (exempting persons using virtual currency from registering as money transmitters) was signed into law last week.

[kpitcher]

That's a good move

[Keith and stuff]

New Hampshire Governor Signs Bitcoin MSB Exemption Into Law
Jun 7, 2017
by Stan Higgins
http://www.coindesk.com/new-hampshir...exemption-law/

The governor of New Hampshire has signed a bill into law that exempts digital currency traders from the state's money transmission regulations.

Public records show that Gov. Chris Sununu signed measure on 2nd June, more than a month after the state's legislature completed work on the bill. The measure was first introduced in January.

According to the text of the bill, the new rules exempt "persons conducting business using transactions conducted in whole or in part in virtual currency" from the state's money transmitter regulations.

The bill is notable given that it enjoyed strong grassroots support in the state, yet its top regulators largely blasted it during public hearings. During a hearing in April, advocates strongly urged legislators to adopt the measure, while representatives from the state's Banking and Justice Departments called for it to be scuttled.

Divisions among state lawmakers on the bill could be seen during a vote in March, when it cleared the House of Representatives by a 185-170 margin. When the State Senate took up the measure in April, it passed by a 13-10 vote, public records show.

The newly-signed bill also stands out for what is effectively deregulation for the state's trader community, whereas other states have looked to beef up rules for those who engage in similar activities. As might be expected, the effort was cheered by community members who have called for fewer regulations for those who work with digital currencies like bitcoin.

[Keith and stuff]

Blockchain Bitcoin & Crypto Weekly CXO Briefing for week starting 12th June 2017

The Blockchain Bitcoin & Crypto Weekly CXO Briefing is all you need to know, each week, jargon free for CXO level business leaders and investors who will use this technology to change the world. Each week we select the 3 news items that matter and explain why and link to one expert opinion.

Editor’s Note: today is written by Ilias Louis Hatzis. Last week we met him as the author of the opinion post about Bitcoin Regulation. We liked it so much we asked him to be the guest editor of today’s news round up.

https://dailyfintech.com/2017/06/12/...2th-june-2017/

News Item 3: New Hampshire Governor Signs Bitcoin MSB Exemption Into Law

Decrypted: Almost a year and half ago, New Hampshire passed regulation making it illegal to sell bitcoin without a traditional money transmission license. Now they’ve changed that decision and signed a new law that exempts digital currency traders from the state’s money transmission regulations.

Our take: As New Hampshire lifts regulations on the digital currency sector, other states are still moving in the opposite direction. One of the reasons for New Hampshire’s reversal has been the opposition from “free staters”. The Free State Project was launched in 2003, and today thousands of free staters live in the state and several have been elected to the legislature.

Unless you are deep into payments and regulation, you might see America as one market. It is one currency, one language and 50 markets/states and there is competition between states.

To say the least, the regulatory landscape in the US. for digital currency and blockchain technology is mixed. Some states are taking a stance, good or bad, and most are doing nothing, stuck in some grey area. Change needs to come from above, because managing 50 different regulations is a huge task for any company, especially a startup. Hopefully, initiatives like “Financial Innovation Now”, a joint effort by Amazon, Apple, Google, Intuit and PayPal, can help push Washington make the needed reforms and spur innovation at the federal level.