Author: Forbes
Compiled by: AididiaoJP, Foresight News
Since cryptocurrency became a policy topic, related debates have long been centered in Washington D.C. This was perfectly reasonable in an era when the SEC, CFTC, Treasury Department, and Congress collectively determined the future of digital assets. However, as we enter 2026, some of the most influential policy developments are emerging from state capitals.
New Hampshire is the latest example. Governor Kelly Ayotte recently signed the HB 639 bill, known as the Blockchain Basics Act, which provides legal protections for digital asset users, developers, miners, validators, and businesses. The Act safeguards the rights to use and self-custody digital assets and authorizes the establishment of a dedicated court channel for handling blockchain-related disputes. This move follows a 2025 law passed by the state allowing the state treasurer to invest a portion of public funds (up to 5%) in precious metals and eligible digital assets. Based on market capitalization thresholds, only Bitcoin currently qualifies.
These measures place New Hampshire at the forefront of pro-innovation, pro-technology policy. It is building a comprehensive legal infrastructure around ownership, payment, custody, commercial activity, and dispute resolution, which are key elements for driving broader adoption and use.
New Hampshire Moves Beyond Slogan-Based Policy
While Bitcoin strategic reserve proposals easily grab headlines, the Blockchain Basics Act may be more significant in the long term. Reserve laws primarily affect how a state government allocates public assets, whereas broader blockchain laws impact entrepreneurs, investors, service providers, courts, and consumers. Particularly noteworthy is the protection for self-custody wallets. Self-custody remains one of the core features distinguishing crypto assets from traditional financial products, but it also presents legal, operational, and cybersecurity challenges. By explicitly recognizing the right to hold and use digital assets, New Hampshire provides certainty without pretending all risks are absent.
The dedicated blockchain dispute channel embedded in the bill is similarly pragmatic. Smart contracts, tokenized assets, validator activities, and decentralized networks can trigger disputes that don't fit within traditional commercial frameworks. Courts need expertise, precedent, and consistent procedures, and legal modernization must advance in step with technological adoption.
Texas Turns Legislation into Operational Execution
Texas is going further in translating Bitcoin policy into operational plans. In June 2025, Governor Greg Abbott signed SB 21, establishing the Texas Strategic Bitcoin Reserve. Legislators allocated $10 million, and the state government subsequently made an initial investment of approximately $5 million via spot Bitcoin ETFs.
Texas is also continuously building the administrative framework needed to manage the reserve, adapting to the evolving Bitcoin market. In May 2026, the State Comptroller appointed a five-member advisory committee and issued a Request for Proposals for custody and liquidity services. Selected providers must support secure asset management, reporting, key management, and operational controls. This helps shift the public sector's crypto adoption process towards standardization, moving beyond slogans and social media posts. Effective public sector crypto policy requires valuation standards, custody controls, cybersecurity procedures, financial reporting, transparency, and accountability mechanisms.
These amounts remain modest compared to Texas's overall budget, but that's not the point. Texas has successfully transitioned Bitcoin from a legislative concept to an operational practice in public finance. Other states now have a functioning model to study, improve, or replicate.
Wyoming Proves Leadership is an Ongoing Process
Wyoming's experience shows that state-level innovation isn't always smooth. A 2025 proposal to allow a portion of state funds (up to 3%) to be invested in Bitcoin failed to pass. However, Wyoming maintains its leadership through its specialized banking framework, focused blockchain legislative work, and the launch of the "Frontier Stable Token" (FRNT).
FRNT, opened to the public in January 2026, is described as the first state-issued stablecoin in the U.S. Its reserves are held by a Wyoming trust and invested in dollars and short-term U.S. Treasuries. Wyoming offers an important lesson: a state can reject one crypto proposal while continuing to advance in other areas of blockchain innovation. This experimentation is a key advantage of federalism. States can test different approaches and generate empirical data on custody, governance, consumer protection, fiscal management, and economic development.
Not every state initiative will succeed, and not every proposal should pass. The key point is that states are actively debating, testing, and implementing policies, rather than waiting for perfect consensus at the national level.
The CLARITY Act Remains Unfinished Business
The contrast with Washington is hard to ignore. In July 2025, the House passed the CLARITY Act with a bipartisan vote of 294-134. In May 2026, the Senate Banking Committee advanced its version with a 15-9 vote. However, the legislation has not yet passed the full Senate, and negotiators remain divided on issues like ethics provisions, federal preemption, regulatory appointments, DeFi protections, and consumer safeguards. A merged Senate proposal would also need sufficient bipartisan support to cross the 60-vote threshold.
States cannot solve all national-level issues, and the continued absence of federal leadership still hinders the further growth and development of the crypto asset industry. States also cannot definitively resolve the SEC vs. CFTC jurisdiction divide, create uniform national exchange rules, or eliminate the compliance costs from a patchwork of state laws. But they are no longer waiting. New Hampshire is protecting blockchain activities, Texas is operating a funded reserve, and Wyoming is expanding blockchain-based financial infrastructure and state-backed stablecoins.
Policymakers across the country and in Washington D.C. should take note: despite the federal government's slow collective action, positive momentum continues to build at the state level.
