New Hampshire enshrines the right to self-custody of cryptocurrencies: new law takes effect
The state of New Hampshire has taken a decisive step toward legalizing and protecting the cryptocurrency ecosystem. Governor Kelly Ayotte signed HB 639, a law guaranteeing the right to self-custody of digital assets, operation of blockchain nodes, mining, and staking. The document will take effect on August 18, 2026.
Under the new law, state and municipal authorities will no longer be able to restrict the use of digital assets for payment of lawful goods and services, nor hinder their storage in personal wallets. Importantly, the law does not impose additional taxes on cryptocurrency transactions, but it does not abolish standard fees associated with conducting operations.
Protection of Mining and Staking
HB 639 clearly stipulates that cryptocurrency mining and staking with one's own funds will not be considered an offer or sale of securities under state law. This is a key point that exempts miners and validators from the need to obtain a money transmitter license. Additionally, the law removes liability for a specific transaction from miners and node operators if their involvement was limited to technical validation. However, it should be emphasized that these relaxations apply only to New Hampshire legislation and do not override the requirements of U.S. federal regulators.
New Judicial Mechanism for Blockchain Disputes
One of the most progressive provisions of the law is the possibility of establishing a separate proceeding under the state Supreme Court to hear disputes related to blockchain. This will allow for faster and more professional handling of cases involving violations of new norms, fraud, contractual obligations, and trust management. The first judge, who must have experience in law and technology, will be appointed by the governor with the consent of the Executive Council.
Authorities Warn: Oversight Weakens
In a fiscal note accompanying the bill, the state Department warned that HB 639 would significantly limit the powers of the Bureau of Securities. The agency will lose the ability to demand compensation for damages to investors and collect fines in cases falling under the new exceptions. Moreover, these powers are not transferred to any other state law enforcement body. The judicial system also noted several ambiguities: the law does not explicitly explain how smart contract norms relate to existing contract law, nor which court should hear disputes over trusts involving cryptocurrency. This could lead to an increase in litigation.
Continuing the Course on Crypto Regulation
HB 639 is not New Hampshire's first step in this direction. In May 2025, the state became the first in the U.S. to allow the creation of a crypto reserve. The Treasury was authorized to allocate up to 5% of certain public funds to digital assets with a market capitalization exceeding $500 billion (which effectively limits the choice to Bitcoin). However, in July 2026, the Executive Council rejected CleanSpark's $100 million bond project backed by Bitcoin.
My analysis: New Hampshire is consistently shaping one of the most friendly jurisdictions for the crypto industry in the U.S. However, as practice shows, even such progressive laws do not guarantee complete freedom from bureaucratic and regulatory obstacles. The rejection of CleanSpark's bonds is a vivid example that political will and the legislative framework are not always synchronized in practice. Nevertheless, for long-term investors and developers, HB 639 is a powerful signal of the state's readiness for dialogue and protection of their interests.