# 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]]
- [[2026-01-14 Regular Meeting|Wed, Jan 14, 2026 - Regular Meeting]]
- [[2026-02-10 Regular Meeting|Tue, Feb 10, 2026 - Regular Meeting]]
- [[2026-03-10 Regular Meeting|Tue, Mar 10, 2026 - Regular Meeting]]
- ==[[2026-04-06 Regular Meeting|Mon, Apr 6, 2026 - Regular Meeting]]==
- [[2026-05-13 Regular Meeting|Wed, May 13, 2026 - 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]]
- [State Stablecoin & DeFi Policy Playbook: Post‑GENIUS Act - NABA](https://nablock.org/state-stablecoin-defi-policy-playbook-post%E2%80%91genius-act/)
## 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/)
## Federal Reserve Papers
- [[SRA2601.pdf|Boston Fed: A Framework for Understanding the Vulnerabilities of New Money-Like Products]]
## [[Potential Legislation]]
## Related News
*The list below is incomplete and should not be considered endorsements.*
- April 2, 2026
- [IMF Publishes "Tokenized Finance" Note on Structural Shift in Financial Architecture](https://www.imf.org/en/publications/imf-notes/issues/2026/04/01/tokenized-finance-574921)
- [Crypto Market Structure Bill Release Pushed Back as Industries View Revised Stablecoin Yield Compromise](https://www.coindesk.com/policy/2026/04/02/crypto-market-structure-bill-release-pushed-back-as-industries-view-revised-stablecoin-yield-compromise-this-week)
- April 1, 2026
- [U.S. Treasury Proposes First GENIUS Act Regulation on State vs. Federal Stablecoin Oversight](https://www.pymnts.com/news/regulation/2026/treasury-proposes-its-first-regulation-to-implement-genius-act/)
- [Proposed Rule Would Give States ‘Wide Latitude’ to Set Stablecoin Regulation](http://bankingjournal.aba.com/2026/04/proposed-rule-would-give-states-wide-latitude-to-set-stablecoin-regulation/)
- March 29, 2026
- [No One Is 100% Happy with the Stablecoin Yield Agreement: State of Crypto](https://www.coindesk.com/policy/2026/03/29/no-one-is-100-happy-with-the-stablecoin-yield-agreement-state-of-crypto)
- March 25, 2026
- [BitGo and ZKsync Partner to Power Bank Adoption of Tokenized Deposits](https://www.zksync.io/blog/bitgo-and-zksync-partner-to-power-bank-adoption)
- March 24, 2026
- [Delaware lawmakers introduce bills to license stablecoin issuers, digital asset firms](https://www.theblock.co/post/394823/delaware-bills-license-stablecoin-issuers)
- March 23, 2026
- [Stablecoin Yield in Crypto CLARITY Act Won’t Allow Rewards on Balances, Latest Text Says](https://www.coindesk.com/policy/2026/03/23/stablecoin-yield-in-crypto-clarity-act-won-t-allow-rewards-on-balances-latest-text-says)
- March 20, 2026
- [Crypto CLARITY Act May Be Cleared to Move After Senators Agree on Stablecoin Yield](https://www.coindesk.com/policy/2026/03/20/crypto-clarity-act-may-be-cleared-to-move-after-senators-agree-on-stablecoin-yield)
- March 18, 2026
- [Key U.S. Senator on Crypto Market Structure Bill: ‘We Think We’ve Got It’](https://www.coindesk.com/policy/2026/03/18/key-u-s-senator-on-crypto-market-structure-bill-negotiation-we-think-we-ve-got-it)
- March 10, 2026
- [Senators Try to Unlock Stalled Crypto CLARITY Act with Compromise on Stablecoin Yield](https://www.coindesk.com/policy/2026/03/10/senators-try-to-unlock-stalled-crypto-clarity-act-with-compromise-on-stablecoin-yield)
- March 8, 2026
- [Tokenized Assets Exceed $25 Billion After Nearly Quadrupling in a Year](https://www.coindesk.com/markets/2026/03/08/tokenized-assets-exceed-usd25-billion-after-nearly-quadrupling-in-a-year)
- March 7, 2026
- [Florida Moves Ahead with State-Level Stablecoin Regulation](https://www.dlnews.com/articles/regulation/florida-lawmakers-pass-stablecoin-legislation/)
- March 6, 2026
- [The Stablecoin Yield Debate](https://www.everycrsreport.com/reports/IF13174.html)
- March 5, 2026
- [Fed, OCC, and FDIC Clarify Capital Treatment of Tokenized Securities](https://www.fdic.gov/news/press-releases/2026/agencies-clarify-capital-treatment-tokenized-securities)
- March 2, 2026
- [TREASURY Office of the Comptroller of the Currency: Implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act or the Issuance of Stablecoins by Entities Subject to the Jurisdiction of the Office of the Comptroller of the Currency](https://www.federalregister.gov/documents/2026/03/02/2026-04089/implementing-the-guiding-and-establishing-national-innovation-for-us-stablecoins-act-for-the)
[[Related News Archive|Older stories (Oct 2025 - Feb 2026) >>]]
## 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)