HB 584

HB 584 addresses the Uniform Commercial Code’s (UCC) article on controllable electronic records (CERs) such as cryptocurrencies, digital assets and non-fungible tokens.

Supporters

Keith Ammon (R-New Boston) wrote the committee report, which recommended the bill ought to pass with amendment.

In the report, he said that Article 12 of the UCC talks about CERs and how they can be legally controlled and transferred as well as other things like records of the CERs, their usage and more.

This bill would update current state law to mirror updates to Article 12 to create a standardized set of rules, facilitating interstate commerce.

Opponents

The only committee opponent to this bill was Christopher Herbert (D-Manchester). He said the amendment to the bill came from a similar amendment last year seeking to challenge the status of the U.S. Dollar, which would challenge the nation’s sovereignty.

Votes

An amendment and a ought to pass with amendment motion was adopted by voice vote.