Is New Hampshire's abolition of Bitcoin regulation a lesson for China?

If you keep thinking about something, it will definitely come back. The time for that has finally come: Can the New Hampshire Senate pass HB 436, a bill that would deregulate digital currencies like Bitcoin? The bill was co-sponsored by House Representatives Barbara Biggie, Keith Ammon, and John Hunt, all early supporters of cryptocurrencies . The bill passed the House of Representatives 185-170 earlier last month. More recently, the Senate Commerce Committee also passed the bill by a 3-2 vote, and today the full Senate will vote on it. With the bill passed, users of cryptocurrencies like Bitcoin will no longer need to provide their identity information to regulators when transferring money. This means that cryptocurrency companies in New Hampshire will no longer be subject to strict KYC (know your customer) and AML (anti-money laundering) rules. New Hampshire is one of the few states in the United States that has shown an interest in cryptocurrencies . New Hampshire has shown a great willingness to accept this currency, and we can affectionately call it a Bitcoin-friendly state. However, despite the broad approval of the bill, there are still some issues that have not been resolved - the Banking Commission has not agreed. The Commission said they need to know what currency exchanges are doing and understand the process of handling digital currency transactions. Many people believe that although there are many benefits to being unregulated, if people encounter problems when trading on exchanges, they can only blame themselves. What the bill can bring to the state Before the introduction of HB 436, the digital currency exchange Poloniex (P network) announced that it would suspend all business activities in New Hampshire. This is precisely because of the state's previous series of actions: implementing strict digital currency regulatory laws and trying to introduce New York's BitLicense regulatory framework. At that time, Poloniex had to pay a non-refundable $500 application fee to operate normally in New Hampshire. The state also defined Bitcoin sellers as money transmitters. These newly registered money transmitters must hold a money transmitter license issued by the state and pay a $100,000 deposit for this. Of course, if the bill is passed, all these regulatory rules will be abolished. It will then become easier for exchanges in the state to serve consumers. The Decree and China Over the past two months, almost all major Chinese bitcoin exchanges have suspended withdrawal services. It is unknown when the freeze will end. Does New Hampshire's move to deregulate provide a reference for the Chinese government's regulatory framework? When people encounter trading problems, is it more beneficial or more harmful to have the government as a backer?