Published On: Thu, Jun 8th, 2017

Regulation Exemption for Bitcoin Becomes Law in New Hampshire

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New Hampshire bill HB436 will exempt “persons using virtual currency from registering as money transmitters”, the first legislation of its kind in the United States.
New Hampshire Embraces Bitcoin
New Hampshire Governor Chris Sununu took his state motto to heart when he signed HB436 into law, exempting Bitcoin from the state’s money transmitter regulations. The measure was passed on June 2nd, and will go into effect on August 1, 2017.
The bill follows the passage of the ominously-named HB666, which added Bitcoins and other cryptocurrencies to the money transmitter statues in 2015. The bill’s passage spooked many of the state’s Bitcoin enthusiasts, who previously enjoyed New Hampshire’s reputation as a crypto-friendly state.
New Hampshire currently boasts the highest per-capita Bitcoin usage in the United States.

The bill itself is actually quite simple, and adds the following brief exemption to the state’s money transmitter law:
Persons who engage in the business of selling or issuing payment instruments or stored value solely in the form of convertible virtual currency or receive convertible virtual currency for transmission to another location.
Don’t Tread On Me
New Hampshire …

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