Chris Sununu, Governor of the U.S. state of New Hampshire, last week signed an executive order establishing a commission to investigate current Bitcoin-related laws and propose new ones as the state seeks to encourage innovation and attract businesses in the financial services sector.
“New Hampshire is a hub of financial innovation, and this Executive Order will further our commitment to attracting high quality banking and financial businesses in a safe and responsible manner,” Governor Chris Sununu said in a statement.
The commission will research U.S. federal and state legislation governing Bitcoin and cryptocurrency to determine their effects on innovation and economic competitiveness of New Hampshire and the country and privacy and liberty rights of citizens, according to the order. Any recommendations to amend changes to such legislations or improve them will need to be justified by the commission.
“I am excited for the work this Commission will undertake and the recommendations they will provide so that New Hampshire can continue to advance necessary reforms that promote economic growth, foster innovation, and meet changing customer needs while ensuring safety, soundness, and consumer protection,” Sununu said in a statement.
The executive order grants the commission a maximum of 180 days to submit a report detailing its “findings, determinations and recommendations to the Governor, the Speaker of the House, and the President of the Senate.” Additionally, the commission’s report will be made publicly available on the Governor’s office website.
According to the order, the commission will be composed of the State Attorney General, the Commissioner of the Bank Department, a state senator, a state representative, a representative of the New Hampshire Bankers Association, a representative of the Cooperative Credit Union Association, “three public members with recognized experience with cryptocurrencies, digital assets and the provision of services to institutions or consumers with respect to digital assets,” and three additional members appointed by Governor Sununu.