# Commission to Study Stable Tokens
This is an **unofficial** portal of [Commission to Study Stable Tokens](https://gc.nh.gov/statstudcomm/details.aspx?id=1729). The commission was created by the passage of [HB310](https://gc.nh.gov/bill_status/billinfo.aspx?id=485&inflect=2) officially titled, "establishing a commission to study the creation of a regulatory framework for stable tokens, tokenized real-world assets, and blockchain-based trusts in New Hampshire." The related statute is [RSA 383:26](https://gc.nh.gov/rsa/html/XXXV/383/383-26.htm).
The purpose of this portal is to keep members of the public informed in as close to real-time as possible.
# Meetings
- [[2025-09-17 Organizational Meeting|Wed, Sep 17, 2025 - Organizational Meeting]]
- [[2025-10-15 Regular Meeting|Wed, Oct 15, 2025 - Regular Meeting]]
- [[2025-11-12 Regular Meeting|Wed, Nov 12, 2025 - Regular Meeting]]
- [[2025-12-10 Regular Meeting|Wed, Dec 10, 2025 - Regular Meeting]]
# Responsibilities
- I. The commission shall study and make recommendations regarding the following:
- (a) The current landscape of stable token and tokenized RWA regulation within and outside New Hampshire.
- (b) Legal, financial, and technological considerations for a state-level regulatory framework.
- (c) Best practices from other jurisdictions for stable token and RWA regulation.
- (d) Potential benefits and risks associated with the adoption of stable token and RWA frameworks in New Hampshire.
- (e) Mechanisms for consumer protection and risk management.
- (f) Economic opportunities related to blockchain technology and digital assets, including fostering innovation and job creation.
# Commission Members
| Member | Position | Appointment | Contact |
| ------------------- | ----------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------ | --------------------------------------------------------------------------------------------------------------------------------- |
| **Keith Ammon** | Representative, Chair | House, Hillsborough District 42 | [gc.nh.gov](https://gc.nh.gov/house/members/member.aspx?pid=836) |
| **Jim Kofalt** | Representative, Vice Chair | House, Hillsborough District 32 | [gc.nh.gov](https://gc.nh.gov/house/members/member.aspx?pid=9895) |
| **Chris McAleer** | Representative | House, Carroll District 2 | [gc.nh.gov](https://gc.nh.gov/house/members/member.aspx?pid=9871) |
| **Daryl Abbas** | Senator | Senate, District 22 | [gc.nh.gov](https://gc.nh.gov/senate/members/webpages/district22.aspx) |
| **Tara Reardon** | Senator | Senate, District 15 | [gc.nh.gov](https://gc.nh.gov/senate/members/webpages/district15.aspx) |
| **Michael Moranti** | Deputy Bank Commissioner | Banking Commissioner or Designee | [banking.nh.gov](https://www.banking.nh.gov/about-us#:~:text=School%20of%20Law.-,Deputy%20Bank%20Commissioner,-Michael%20Moranti) |
| **Brandon Garod** | Senior Assistant Attorney General | Attorney General or Designee | [LinkedIn](https://www.linkedin.com/in/brandon-garod-60685b40/) |
| **Katie Taylor** | Staff Attorney, Bureau of Securities Regulation | Secretary of State or Designee | [Email](mailto:
[email protected]) |
| **Dan Nuñez Cohen** | VP, Head of Policy - North America<br>VP, Senior Regulatory Counsel <br>at [Crypto.com](https://crypto.com) | Blockchain technology industry representative, appointed by the governor | [LinkedIn](https://www.linkedin.com/in/dan-nu%C3%B1ez-cohen-a2159162/) |
| **Andy Schwab** | Founder & CEO, [Sodal.io](https://sodal.io) | Blockchain technology industry representative, appointed by the governor | [Links](https://andyschwab.link/) |
| **Jim Kisch** | President and CEO of [Passumpsic Bank](https://www.passumpsicbank.com/) | Banking industry representative, appointed by the governor | [LinkedIn](https://www.linkedin.com/in/kisch/) |
| **Seth Oranburg** | Professor of Law, [UNH Franklin Pierce School of Law](https://law.unh.edu) | Academic community representative, appointed by the governor | [LinkedIn](https://www.linkedin.com/in/sco603/) |
# Resources
## Blockchain 101
- [[What is a Blockchain One-Pager 2025 03 28.pdf|What is a Blockchain? One-Pager]]
## Glossary
- [[Glossary of Terms]]
## Reports
- [[Strengthening American Leadership in Digital Finance Technology|White House Crypto Report]]
- [[Report of Governor Sununu's Commission on Cryptocurrencies and Digital Assets|New Hampshire Commission on Cryptocurrencies and Digital Assets]]
- [[Final Hedera New Hampshire Submission October 2025.pdf|Final Hedera New Hampshire Submission October 2025]]
## Federal Legislation
- [GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins)](https://www.congress.gov/bill/119th-congress/senate-bill/1582)
- [Digital Asset Market Clarity (CLARITY) Act](https://agriculture.house.gov/news/documentsingle.aspx?DocumentID=7921)
## Other States' Efforts
- [Wyoming Stable Token Commission](https://stabletoken.wyo.gov/)
- [Bank of North Dakota and Fiserv Partner to Launch “Roughrider Coin”](https://bnd.nd.gov/bank-of-north-dakota-and-fiserv-partner-to-launch-roughrider-coin/)
## [[Potential Legislation]]
## Related News
*The list below is incomplete and should not be considered endorsements.*
- Dec. 5, 2025
- [IMF: How Stablecoins Can Improve Payments And Global Finance – Analysis](https://www.imf.org/en/blogs/articles/2025/12/04/how-stablecoins-can-improve-payments-and-global-finance)
- Dec. 3, 2025
- [Coinbase CEO: Major U.S. Banks Running Stablecoin and Crypto Pilots](https://www.coindesk.com/business/2025/12/03/coinbase-is-partnering-with-major-u-s-banks-on-stablecoin-and-crypto-pilots)
- Dec. 2, 2025
- [Kraken Acquires Backed Finance to Accelerate Tokenized Stock Expansion](https://cointelegraph.com/news/kraken-backed-finance-2025-acquisition-xstocks-tokenization)
- Dec. 1, 2025
- [FDIC Says First GENIUS Act Regulations Coming This Month](https://www.coindesk.com/policy/2025/12/01/u-s-fdic-chief-says-first-genius-act-regulations-heading-for-proposal-this-month)
* Nov. 26, 2025
* [Securitize Gets EU Green Light, Plans Tokenized Securities Platform on Avalanche](https://www.coindesk.com/business/2025/11/26/securitize-gets-eu-green-light-plans-tokenized-securities-platform-on-avalanche)
* Nov. 25, 2025
* [Klarna Launches KlarnaUSD as Stablecoin Transactions Hit $27 Trillion Annually](https://www.businesswire.com/news/home/20251125988620/en/Klarna-Launches-KlarnaUSD-as-Stablecoin-Transactions-Hit-%2427-Trillion-Annually)
* [U.S Bank Tests Custom Stablecoin Issuance on Stellar Network](https://www.coindesk.com/business/2025/11/25/anchorage-digital-aims-to-pay-rewards-on-ethena-s-tokens-under-genius-act)
* [Anchorage Digital Aims to Pay 'Rewards' on Ethena's Tokens Under GENIUS Act](https://www.coindesk.com/business/2025/11/25/anchorage-digital-aims-to-pay-rewards-on-ethena-s-tokens-under-genius-act)
* Nov. 24, 2025
* [The Digital Dawn: Tokenized Stocks Poised to Reshape Global Financial Markets](https://markets.financialcontent.com/stocks/article/marketminute-2025-11-24-the-digital-dawn-tokenized-stocks-poised-to-reshape-global-financial-markets)
* Nov. 07, 2025
* [Federal Reserve: A Global Stablecoin Glut: Implications for Monetary Policy](https://www.federalreserve.gov/newsevents/speech/miran20251107a.htm)
* Oct. 30, 2025
* [Standard Chartered sees tokenized real-world assets reaching $2 trillion by 2028 — ‘vast majority’ on Ethereum](https://www.tradingview.com/news/the_block:b3fa03d1f094b:0-standard-chartered-sees-tokenized-real-world-assets-reaching-2-trillion-by-2028-vast-majority-on-ethereum/)
## Stable Token and RWA Analytics
*The real-world-asset explorers listed below are for informational purposes only and should not be considered endorsements.*
- [Artemis Analytics](https://app.artemisanalytics.com/stablecoins)
- [DefiLlama](https://defillama.com/stablecoins)
- [Messari](https://messari.io/stablecoins)
- [RWA.xyz](https://app.rwa.xyz/)
# Inquiries
Email:
[email protected]
Official State Portal: [gc.nh.gov](https://gc.nh.gov/statstudcomm/details.aspx?id=1729)