Bitcoin Tax bill HB552 – which was introduced to New Hampshire lawmakers by Representative Eric Schleien – has been defeated in a vote held at the New Hampshire House of Representatives. According to records provided by the New Hampshire General court, 264 representatives voted against the bill, while only 74 voted in favor.
Schleien’s bill would have offered citizens of New Hampshire the option of using bitcoin as a payment medium for tax bills and other government fees. Under HB552, the state of New Hampshire would have used an intermediary exchanger to convert digital currency deposits into cash immediately, thus removing any risks associated with Bitcoin’s unpredictable exchange rate fluctuations.
The controversial bill was heavily debated in a hearing held by the New Hampshire General Court Ways and Means Committee in February of last year.
In a statement to CoinDesk, Schleien made it clear that he is not giving up just yet, and that another version of the bill may be introduced at a later date:
“Seventy-four votes for the bill. Good showing for a first time. More education and outreach needed. More activism needed,”
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