New Hampshire seems close to becoming another crypto-friendly place in the United States thanks to the effort of its politicians to allow the use of cryptocurrencies as acceptable means of payment for taxes and other obligations.
Earlier this year, House bill 470-FN brought optimism to members of the crypto community because if approved, state agencies will be allowed to accept cryptocurrencies as payment for a wide variety of services.
A few days ago, the subcommittee assigned to look at HB 470 voted unanimously to approve the bill with a few amendments, a decision that generated good impressions in local media and social networks.
New Hampshire: Helping to Build a Crypto-Friendly Country?
There is still some work to be done. After this approval, the bill must satisfactorily go through a series of bureaucratic procedures before being implemented. Among these requirements is the approval of the Senate and the House of Representatives so that the Governor can later order its execution.
New Hampshire is not the only state that has decided to take a crypto-friendly direction. The first state to accept Bitcoin for taxes was Ohio. According to an article published in the Wall Street Journal, businesses that want to pay their taxes with crypto will have the opportunity to do so through Ohio Crypto.
However, by May 2018, Seminole County in Florida had announced the acceptance of Bitcoins for local taxes.
Another state that has shown interest in the use of cryptocurrencies as tools to improve economic dynamism y is Indiana. House Bill 1683 filed January 24th seeks to amend the state’s taxation code to allow the use of crypto to make a variety of payments ranging from taxes to assessments.
This bill is in a less advanced state than New Hampshire’s but shows that the American legal system is taking the first steps towards an evolution that allows the integration of the fiat system with cryptocurrencies and blockchain technologies.
Although there is no specific deadline to talk about the implementation of the law, if approved, the State Treasurer will have to start all the necessary procedures to accept crypto before July 1st of next year.