New Hampshire Governor Kelly Ayotte has signed the historic HB 639 bill into law, which takes effect on August 18, 2026, and enshrines the fundamental rights of digital asset users at the state level. The document explicitly prohibits any state or municipal authorities from restricting the use of cryptocurrencies for the payment of lawful goods and services, as well as from hindering their self-custody in personal wallets. The law provides broad immunities: cryptocurrency mining and staking using one's own funds are no longer classified as the offer or sale of securities. Furthermore, miners, node operators, and staking service providers are shielded from liability for specific transactions if their role was limited solely to technical data validation. For a segment of the industry, the law also introduces an exemption from the requirement to obtain a money transmitter license, significantly reducing the bureaucratic burden on businesses.

One of the most innovative features of the legislation is the establishment of precedent-setting judicial practice. HB 639 grants the state's Supreme Court the authority to create a specialized docket for handling complex disputes related to blockchain technologies. This will require a separate order and the consent of all involved parties. This specialized court will handle cases involving violations of the new norms, smart contract disputes, fraud, and fiduciary duties. The Governor, with the consent of the Executive Council, will have the right to appoint the presiding judge, who must possess proven experience in both law and modern technology. However, the authors of the law emphasize that these exemptions operate exclusively within the jurisdiction of New Hampshire and do not preempt the strict requirements of federal regulators such as the SEC or CFTC.

Despite the euphoria within the crypto community, the bill has raised serious concerns among regulatory bodies. In a fiscal note, the state's Department of Administration explicitly warned that HB 639 will critically limit the powers of the local Securities Bureau. The agency will effectively lose the ability to demand restitution for investors and impose fines in cases that fall under the new exemptions, and these powers are not being transferred to any other state law enforcement agency. The judicial system has also pointed out several legal ambiguities, such as the lack of clear alignment between smart contract norms and existing contract law, which could trigger an increase in litigation. Nevertheless, this step logically continues the state's course toward attracting responsible blockchain businesses. It is worth recalling that back in May 2025, New Hampshire became a pioneer by allowing the state treasury to allocate up to 5% of public funds into assets with a market capitalization exceeding $500 billion (effectively only Bitcoin), although the Executive Council recently rejected a $100 million CleanSpark bond project backed by crypto assets.

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The material is prepared solely for informational purposes and does not constitute a financial advice or recommendation.