While the US government delays providing regulatory clarity on cryptocurrencies, one state is taking proactive steps toward recognizing the nascent sector.
New Hampshire Governor Chris Sununu has signed an executive order creating the Governor’s Commission on Cryptocurrencies and Digital Assets to do a wide-ranging and comprehensive survey of the digital asset space in order to make recommendations regarding future state laws and policies.
As an official press release explains,
“This new commission will be tasked with:
Reviewing and investigating the current status of the cryptocurrency and digital asset industry, and the underlying technologies supporting development of the industry.
Holding public hearings to hear testimony regarding the development of cryptocurrency and digital asset economies…
Making findings and determinations regarding the role and effectiveness of current state laws and regulations governing cryptocurrencies and other digital assets and the reasons why modifications and improvements to such laws and regulations are necessary.”
The 12-member commission will include representatives from the state government, financial sector and members of the public.
The executive order lays out its purpose as follows,
“Rising use and acceptance of cryptocurrencies and other digital assets is increasing demand for safe, sound, efficient and effective financial services…
Federal and state governments must work to bring legal and regulatory certainty to the digital asset industry because clear rules of the road foster technology and innovation.
Regulatory uncertainty will hinder the development of digital assets and their underlying technologies in New Hampshire and the United States, shifting its development outside the United States.”
The commission is required to formally submit its findings within six months.Check Price Action
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Featured Image: Shutterstock/GrandeDuc/Natalia Siiatovskaia