Jan 162015
 

New Hampshire Representative Daniel Tamburello introduced legislation to exempt virtual currency users from Licensing of Money Transmitters. This legislation is similar to the Model Legislation I proposed on this blog in August of last year.

Another proposal before the New Hampshire legislature would “requir[e] the state treasurer to develop an implementation plan for the state to accept bitcoin as payment for taxes and fees.” The text of this legislation is not yet available, however, I oppose any legislation that mandates a government entity to do something that would increase the cost of operation.

It’s possible that other states will take up legislation to wither regulate or codify the use of bitcoin and other virtual currencies. Last year, in California the legislature repealed a law that stated, “No corporation, social purpose corporation, association, or individual shall issue or put in circulation, as money, anything but the lawful money of the United States.” And there is speculation that the California Legislature could consider legislation to regulate bitcoin.

There are no guarantees that any legislation will pass preventing governments from regulating virtual currencies. However, I believe it is beneficial for legislators, and the public at large, to have a conversation premised around preventing regulations of what is left of the free market.

Darryl W. Perry

Darryl has spent most of his adult life as an advocate & activist for peace and liberty. Darryl is an award winning author, publisher & radio/TV host. He is a regular contributor to several weekly and monthly newspapers. He hosts the daily newscast FPPRadioNews, the podcast Peace, Love, Liberty Radio, the weekly news podcast FPP Freedom Minute, and is a regular co-host on Free Talk Live. Darryl is a co-founder and co-chair of the NH Liberty Party. Darryl is the Owner/Managing Editor of Free Press Publications.

  2 Responses to “NH Representative Pushes Back on Virtual Currency Regulation”

  1. The Daniel Tamburello link – http//www.gencourt.state.nh.us/house/members/member.aspx?member=377037 – is broken; its just missing the colon