New Hampshire Council Rejects $100 Million Bitcoin-Backed Bond

The New Hampshire Executive Council rejected a plan to authorize a $100 million municipal bond backed by Bitcoin, with a 3-2 vote against the proposal. The bond was intended to be the first of its kind globally, aiming to attract digital finance to the state. Despite support from the New Hampshire Business Finance Authority and Governor Kelly Ayotte, who emphasized the deal's zero risk for taxpayers and its potential to foster further similar projects, the council members expressed caution. One councilor, Karen Liot Hill, highlighted concerns about the volatility of cryptocurrencies, even though the deal was structured to protect the state from financial risk. The proposal had already received Moody's ratings and was close to final approval before the vote. The rejection underscores ongoing regulatory and political hurdles in integrating cryptocurrencies into traditional financial instruments. The involved parties, including the state's authorities and supporters, remain interested in future digital asset projects, with some expressing willingness to revisit the idea later.