Warning: Bill numbers and names are based on text-to-speech transcript which may have errors due to transcription issues or ad hoc/incomplete language use by committee.
The speaker conducted quick introductions around the room and confirmed that recording equipment was active and connected properly, including checking visibility on screens and noting a dog in view.
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Finishing previous discussion on recording setup.
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Introduces self as five-term state rep focused on blockchain legislation and welcomes the group to the commission meeting.
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Introduces self as bank commissioner participating in the meeting.
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Introduces self as deputy bank commissioner and commissioner's designee.
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Introduces self as president and CEO of Sunset Bank serving as banking industry representative on the commission.
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Introduces self as chief business architect at Vantage Bank.
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Introduces self as representative with New Hampshire Bankers.
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Introduces self as president and CEO of New Hampshire Bankers.
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Introduces self as member of the public teaching at Osher on the history of the US dollar and its rivals, noting stablecoin technology importance.
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Introduces self as member of the public and proprietor of Prope's Feed Farm.
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Introduces self as representative from the state treasury, welcomed by the chair.
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Finishing remarks on the blockchain commission agenda and related topics.
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Introduced self as lobbyist for the digital asset industry representative from Crypto.com.
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Introduced self as staff attorney and secretary of state's designee.
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Introduced self as representative from Rathian and Pignatelli.
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Introduced self as commission member and academic appointee.
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Confirmed quorum, shared agenda link, checked recording, discussed and motioned to approve April 6th meeting minutes with a second.
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Approved minutes from May 4th meeting after corrections for attendee names and spellings. Transitioned into discussion and presentations on tokenized assets and blockchain technology.
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Introduced JD and Link Network's work with tokenized money market funds as collateral for trading, enabling 24/7 on-chain settlement through regulated entities and broker-dealers.
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Presented background on creating the first 40-Act fund shares as digital assets, journey from Arca Capital Management, ARCA US Treasury Fund launched in 2020, challenges with regulation, banking, privacy, and development of Link for real-time settlement using tokenized treasury funds. Discussed use cases including treasury management, collateral, cross-border payments, and risk mitigation.
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Asked questions about federal legislative changes, Clarity Act impacts, business model distinctions from stable token issuers, and factors for New Hampshire to attract such businesses including domicile considerations.
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Presented on Hazel network for tokenized deposits, bank-led infrastructure, stablecoin volumes and risks to community bank deposits, use cases like supply chain discounting and automated sweeps, regulatory compliance baked into smart contracts, and policy recommendations for New Hampshire including fast-track licensing and public blockchain access.
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Asked follow-up questions on technology stack, privacy, risk mitigation, systemic risks, state policy conflicts between stable tokens and bank deposits, smart contract safeguards, and future of tokenization versus stablecoins.