Opinion: A state commission in New Hampshire has recommended a slew of regulations that would cultivate the crypto industry.
appointed by Governor Chris Sununu. The recommendations would establish a legal framework for blockchain and crypto businesses in the state, providing clarity and certainty to entrepreneurs and regulators while avoiding the onerous and largely pointless special rules federal regulators and members of Congress want to impose on the industry. The proposed rules would also protect consumers, depositors and investors.
New Hampshire’s framework would remove that gray area, setting the rules on how digital assets should be treated by regulators — as securities, commodities or currencies — and help ensure they follow Anti-Money Laundering and fraud rules. While officials will have their work cut out to lure crypto businesses away from the Caribbean, new startups will benefit, as the new rules could attract more risk-averse investors.
, establish a “blockchain dispute docket” in the court system and get committees of the legislature to update relevant legal codes, like the Uniform Commercial Code, the state’s securities law and state banking laws.Another concern that helps distinguish New Hampshire from skeptical federal regulators is its commitment to privacy and private property.
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