New Hampshire Becomes First U.S. State to Launch Official Crypto Reserve
Crypto Regulation and Trade Policy in Focus as New Hampshire Launches Bitcoin Reserve, UK and US Near Tariff Deal, and Senate Targets Trump Family’s Digital Asset Profits.
Because Bitcoin
May 6, 2025
New Hampshire Becomes First State to Establish Crypto Reserve, Authorizing Bitcoin Investments
New Hampshire has passed HB 302, making it the first U.S. state to create a crypto reserve by allowing up to 5% of its public funds to be invested in digital assets and precious metals. Governor Kelly Ayotte celebrated the move, which permits investments only in cryptocurrencies with a market cap over $500 billion—effectively limiting it to Bitcoin. The assets will be held through secure custody or exchange-traded products. While federal efforts to build a national Bitcoin reserve have stalled, New Hampshire’s proactive legislation positions it ahead of other states where similar bills have recently failed. The law will take effect in 60 days.
UK and US Near Trade Deal to Soften Blow of Trump Tariffs with Quotas on Cars and Steel
The UK and US are close to finalizing a trade agreement that would shield British car and steel exports from the full impact of Donald Trump’s new 25% tariffs, through the use of lower-tariff quotas. Negotiations, which are in their final stages, aim to protect key UK industries—especially luxury carmakers and steel producers—from severe economic fallout. In return, the UK is offering concessions on digital services taxes, US car imports, and some agricultural tariffs, but is standing firm against accepting US food production standards. The deal is one of several Trump hopes to secure with major trading partners as he recalibrates his global tariff strategy. While UK officials view the proposed quotas as “generous,” some insiders warn the agreement remains limited and unresolved issues—particularly in pharmaceuticals—could delay its completion.
Senate Democrats Propose New Bill to Block Trump Family from Profiting Off Digital Assets Amid Meme Coin Controversy
After withdrawing support for the bipartisan GENIUS Act, Senate Democrats have introduced the End Crypto Corruption Act, aimed at preventing federal officials and their families from issuing or profiting from digital assets. The move comes in response to revelations that Donald Trump and his family could earn billions from stablecoin deals and meme coin promotions, including a contest offering White House access to top $TRUMP coin holders. The bill’s lead sponsor, Sen. Jeff Merkley, called such schemes corrupt and dangerous to national security. While Republicans haven’t backed the bill, some, including Sen. Cynthia Lummis, acknowledged the need for clearer regulation of lawmakers’ crypto involvement.
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