The state of New Hampshire has been adjusting its regulation in a way that is friendly to the cryptocurrency industry.
New Hampshire state legislators are currently discussing a bill that would recognize the potential benefits that cryptocurrency mining can bring to ensure the stability of the energy grid and to incentivize sustainable energy generation.
House Bill 558-FN, which is related to microgrids and energy grid resilience in the state, is being debated today in executive session of the New Hampshire House of Representatives, according to the schedule published by the general court of New Hampshire.
Cathedra Bitcoin company CFO Isaac Fithian, shared on his Twitter account part of the discussions that have been taking place in the hearings on the aforementioned bill before the Committee on Science, Technology and Energy of the state of New Hampshire.
Fithian testified last week before state legislators about the benefits of Bitcoin mining and cryptocurrencies for the state's energy system. According to Fithian, the bill seeks to: create a regulatory framework to establish microgrids energy at the local level.
Bitcoiners list the advantages of Bitcoin mining to stabilize power grids
Separately, crypto analyst and CEO of Satoshi Act Fund Dennis Porter also testified for House Bill 558-FN before the state's Science, Technology and Energy Committee, speaking about the potential benefits of Bitcoin mining for energy grids.
In his remarks, Porter stressed that bitcoin mining will help the state of New Hampshire optimize the operation of its energy grid.
Among the advantages of this cryptoactivity, Porter specified the possibility of “reduce energy prices, cultivate carbon-free energy, boost local investment, create jobs and improve stability”.
US Senator for Texas Ted Cruz has also championed Bitcoin mining as a key factor in stabilizing power grids and as a key element in driving the construction of an abundant and clean energy future, primarily by the ability of crypto miners to consume energy in periods of abundance and to quickly disconnect in times of high stress and demand.
Congressman Pete Sessions also believes that Bitcoin mining could help the United States lay the groundwork for achieving energy independence.
New Hampshire created a study commission dedicated to Bitcoin
The state of New Hampshire has been supporting the development of the cryptocurrency industry, passing several crypto-friendly bills. For example, in April last year, the New Hampshire House of Representatives gave the green light to bill HB1503-FN, which excludes cryptocurrency and token issuers and providers from securities laws.
Likewise, the state's governor, Chris Sununu, signed an executive order to establish a Study Commission focused on cryptocurrencies and digital assets, whose main objective is to investigate and evaluate how the crypto industry can be regulated in favor of state economic and technological development.
Governor Sununu said in a release that New Hampshire is a hub of financial innovation and that the state will continue to advance reforms as necessary to promote economic growth, foster innovation, and meet the growing cryptocurrency-related needs of its citizens and customers.
In addition to New Hampshire, other states such as Texas, Arizona, Wyoming and Louisiana, are opening their doors to the crypto industry. Along with several US legislators, they have defended the cryptocurrency industry as a potential benefit to the development and economic leadership of the United States.
Continue reading: New Hampshire follows Wyoming to lead the way in cryptocurrency investment with new law
