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Crypto

New Hampshire rejects bitcoin-backed bond proposal

New Hampshire has rejected a plan to issue $100 million of bitcoin-backed bonds, a proposal that would have created what backers described as the world’s first bitcoin-collateralised municipal bond. The state’s Executive Council voted 3-2 to block the plan after it cleared a Moody’s credit-rating process. Opponents cited cryptocurrency volatility and concerns that the state would legitimise such transactions. Supporters argued bitcoin is established and said the structure would not shift risk to taxpayers.

Crypto

New Hampshire considers $100 million bitcoin-backed bond issue

U.S. state New Hampshire has begun discussions on issuing a $100 million bitcoin-backed bond. The state’s secretary of state’s office said lawmakers plan to take up the proposal at a public hearing. The plan was advanced after the state’s corporate finance authority placed it on the governor and executive council agenda. Governor Kelly Ayotte and a five-member executive council must approve any issuance.