PANews reported on May 7 that according to a statement released by Satoshi Action Fund, New Hampshire officially signed HB 302, becoming the first state in the United States to pass the "Strategic Bitcoin Reserve" (SBR) legislation. The bill authorizes the state treasurer to purchase Bitcoin or digital assets with a market value of more than $500 billion, and sets the holding limit at 5% of the total reserve funds. Reserve assets must be managed through a multi-signature mechanism or exchange product that complies with US regulatory compliance to ensure transparency and security. The bill will officially take effect in 60 days.
