RELEASE: Bill Passed in Senate Creates Dangerous Loophole for Illegal Transactions

CONCORD – Senate Democratic Leader Jeff Woodburn (D-Whitefield) issued the following comments after passage of HB 436, legislation to remove third party entities from the regulation of virtual currency.

“This is not an issue of whether forms of virtual forms of currency are viable. It’s an issue of extending the same level of oversight over virtual currency as exists for traditional financial transfers. Removing this third party oversight is not only risky for consumers but also makes it easier for drug dealers and other criminals to carry out illegal, untraceable transactions in New Hampshire. Our state is in the midst of a well-documented and widespread substance abuse crisis and this careless legislation adds fuel to the fire.”