The state of New Hampshire has enshrined the right to non-custodial cryptocurrency storage into law.
New Hampshire Governor Kelly Ayotte signed HB 639, a law introducing comprehensive legal protections for self-custody of digital assets, as well as for operating blockchain nodes, mining, and staking. The document takes effect on August 18, 2026, 60 days after the official signing.
Key Provisions of the New Law
The law categorically prohibits state authorities and local municipalities from imposing restrictions on the use of digital assets for payment of lawful goods and services. Additionally, it explicitly protects citizens' rights to non-custodial storage of cryptocurrencies in their own wallets, without intermediaries. Importantly, HB 639 also eliminates the possibility of introducing additional taxes or fees tied solely to the fact of payment with a digital asset, although standard transaction fees remain in effect.
Separately, the law guarantees the right to launch and operate blockchain nodes, connect to protocols, transfer digital assets, and participate in staking. Mining and staking with personal funds will no longer be classified as an offer or sale of securities under state law. A similar exemption applies to exchanges if the assets remain under the control of the platform or their owner. Miners, node operators, and staking service providers are exempt from liability for specific transactions if their role was limited to technical validation.
New Mechanism for Blockchain Disputes
HB 639 grants the state Supreme Court the authority to create a specialized judicial proceeding for handling disputes related to blockchain. Launching this mechanism will require a separate court order and the consent of the parties. This proceeding will be able to consider violations of the new norms, contractual disputes, fraud cases, and other complex issues. The first presiding judge, with expertise in law and technology, will be appointed by the governor with the consent of the Executive Council.
Impact on Regulation and Potential Risks
In the fiscal note accompanying the bill, state authorities warned that HB 639 will significantly limit the powers of the Securities Bureau regarding mining and some staking services. The agency will lose the ability to demand compensation for investor damages and collect fines in cases falling under the new exemptions. The judicial system, in turn, pointed out ambiguities: the law does not explicitly explain how smart contract norms relate to existing contract law, which could lead to an increase in litigation.
Strategic Direction and Context
This law builds on recommendations from the cryptocurrency commission established by former Governor Chris Sununu. Lawmakers aim to attract responsible blockchain companies to the state and reduce legal uncertainty. Earlier, in May 2025, New Hampshire became the first U.S. state to allow the creation of a crypto reserve, enabling the treasury to allocate up to 5% of certain public funds to Bitcoin. However, in July 2026, the Executive Council rejected CleanSpark's $100 million bond project backed by Bitcoin, demonstrating continued caution at the highest level.
My Expert Commentary: New Hampshire is consistently shaping one of the most progressive cryptocurrency regulatory regimes in the U.S. Protecting non-custodial storage and mining are fundamental steps that create clear "rules of the game" for businesses and users. However, warnings about weakened regulatory oversight and legal ambiguities regarding smart contracts indicate that this law is only the first stage of a complex process of adapting traditional law to decentralized technologies. Investors should closely monitor how these conflicts are resolved in practice.