In 2015 the idea to get New Hampshire to accept Bitcoin for state payments was first brewed.
Today, the lawmakers of the U.S. state of New Hampshire proposed a bill to legalize payment of fees and taxes using Bitcoin. This latest attempt is sponsored by Republicans Dennis Acton and Michael Yakubovich.
The New Hampshire House Bill 470 (NH HB470) is making its way through the chambers of the local government. A public hearing took place last Wednesday – January 23. A summary of the bill’s passage confirms a subcommittee is due to examine on the 29th of January. The due date for a decision is set for the 14th of March.
The bill’s passage states that the bill requires the State Treasurer to develop an implementation plan for the state to accept cryptocurrencies as payment for taxes and fees beginning July 1, 2020.
Additionally, the plan shall address any accounting, valuation and management issues and also identify an appropriate third party payment processor that will process cryptocurrency transactions at no cost to the state. The State Treasurer is required to submit the plan to the Governor, House and Senate by November 1, 2019.
On a side note, Wyoming led a progressive stance on the issue by introducing a bill to legally define crypto as money. However, the situation remains a patchwork at the national level with complains against entities like Securities and Exchange Commission having less than ideal regulation.