Bitcoin Reserve Bill Advances in New Hampshire: Set for House Vote

The New Hampshire House Commerce Committee has approved the Bitcoin Reserve Bill (HB302) with a resounding 16-1 vote. This development propels the bill to a full House vote.

This decision makes New Hampshire the seventh U.S. state to bring a Bitcoin-related bill to a House vote. If passed, the state treasurer will be authorized to allocate up to 5% of general funds and revenue stabilization funds into digital assets.

While the bill does not specify particular assets, it only includes digital assets that have exceeded a market capitalization of $500 billion in the past year. Currently, Bitcoin (BTC) is the only asset meeting this criterion.

Additionally, the bill mandates that acquired digital assets must be held with a qualified custodian or in exchange-traded products (ETPs). Investments in precious metals such as gold, silver, and platinum are also permitted under the proposed legislation.

Bitcoin Bill Revised: Stablecoin and Staking Excluded

The bill was introduced on January 10 by Republican Representative Keith Ammon and co-sponsored by Democratic Representatives Chris McAleer and Kerry Spier. During the March 5 House Committee meeting, Ammon announced that the bill had been amended to exclude stablecoin and staking investments.

Initially, the bill allowed for a maximum of 10% investment in digital assets, but following discussions, this figure was reduced to 5%.

Meanwhile, New Hampshire joins North Carolina, Oklahoma, and Texas in awaiting a House vote. Separately, two bills in Utah and Arizona have already passed their respective House votes.

This wave of state-level legislation follows President Donald Trump’s March 2 announcement of a strategic reserve plan for cryptocurrencies, including Bitcoin, Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA).

Commenting on the development, Bitwise Chief Investment Officer Matt Hougan predicted that the reserve plan would likely be composed largely of Bitcoin.

Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube and Twitter for the latest news and updates.

The post New Hampshire’s Bitcoin Reserve Bill (HB302) Approved in Committee appeared first on Coin Engineer.

Fed Chair Powell’s Remarks on Inflation and Monetary Policy

Federal Reserve Chair Jerome Powell addressed the House Financial Services Committee, providing key insights into inflation and monetary policy. Powell acknowledged that while inflation has significantly declined over the past two years, it remains elevated compared to the Fed’s 2% target.

Despite progress toward the inflation goal, Powell emphasized that risks persist, and the Fed remains cautious in its approach. He reiterated his commitment to a data-driven strategy, stating that while monetary policy rules are important, they serve as a starting point rather than a final decision-making framework.

Regarding stablecoins, Powell reaffirmed his previous stance, highlighting the necessity of a strong regulatory framework and stressing that the Federal Reserve continues to closely monitor developments in the digital asset space.

Powell’s remarks suggest that the Fed is likely to maintain its current policy stance and avoid premature rate cuts, a key consideration for investors closely watching interest rate expectations.

Fed Chair Powell’s Remarks: Employment, Inflation, and Treasury Liquidity

Federal Reserve Chair Jerome Powell addressed key economic topics, including employment, inflation, and Treasury liquidity. Powell stated that the Fed’s employment mandate could lead to higher employment levels.

He also reflected on the Fed’s 2021 stance, when inflation was considered transitory, emphasizing the significance of past decisions in shaping the current economic outlook.

Additionally, Powell expressed concerns about Treasury market liquidity, highlighting the need for close monitoring to ensure financial system stability.

Fed Chairman Powell’s Key Remarks: Balance Sheet Reduction and Crypto Policy

U.S. Federal Reserve Chairman Jerome Powell emphasized that more progress is needed in balance sheet reduction. Powell also mentioned that changing the interest rates in the tariffs is possible and noted that while they are approaching their inflation target, they have not yet reached it. He pointed out that today’s inflation data confirms this, and therefore, the monetary policy will remain tight for now.

Additionally, Powell highlighted that many activities related to cryptocurrency can be effectively conducted through banks. These remarks clarify the Fed’s stance on cryptocurrencies and financial markets.

Powell: “PPI Data Will Be Monitored for Its Impact on PCE”

Federal Reserve Chair Jerome Powell stated that tomorrow’s Producer Price Index (PPI) data will be closely monitored to assess its impact on the Personal Consumption Expenditures (PCE) inflation measure. Powell emphasized the need for caution regarding today’s Consumer Price Index (CPI) data, reiterating that the Fed primarily targets the PCE inflation indicator, which he considers a more accurate measure.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post What Did Fed Chair Powell Say in the House? appeared first on Coin Engineer.