Core Provisions of HB639 After Registration
New Hampshire House Bill HB639 completed its registration process on July 1. Under the bill, neither the state government nor local governments may restrict an individual from using digital assets for payments. The measure also protects the right to hold assets through a self-custody wallet, preventing public authorities from interfering with personal control over digital asset holdings.
The bill further states that governments may not impose additional taxes merely because a person uses digital assets. This provision is notable because it addresses not only access and usage rights, but also the tax treatment tied specifically to digital asset activity. In practical terms, the bill draws a line against discriminatory local or state-level burdens placed solely on crypto-based transactions or holdings.
Licensing and Securities Treatment for On-Chain Activity
HB639 also defines a clearer regulatory perimeter for core blockchain infrastructure activity. According to the bill, individuals or businesses that operate nodes, engage in mining, or participate in staking would not be required to obtain a money transmitter license. This removes a compliance burden that has often been debated in relation to whether technical blockchain services should be treated like regulated financial intermediation.
In addition, the bill states that these activities are not to be considered the issuance or sale of securities. That distinction is material for market participants involved in validator operations, mining infrastructure, and staking-related services, because it separates core protocol participation from securities issuance frameworks under the bill’s state-level treatment.
Dedicated Blockchain Disputes Court and Effective Date
Another key element of HB639 is its authorization for the New Hampshire Supreme Court to establish a dedicated blockchain disputes court. The court would specifically hear blockchain-related civil disputes, creating a more specialized forum for handling legal conflicts tied to digital asset and blockchain matters.
Under the bill’s timeline, the measure will take effect 60 days after passage. The source referenced for the filing status and text is the LegiScan page for the New Hampshire legislation. The development marks a notable state-level legal step in defining protections for self-custody, payment usage, infrastructure participation, and judicial handling of blockchain-related disputes.