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New Hampshire Abandons Pioneering Bitcoin Bond Plan

CoinNetwork
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CoinWorld news, New Hampshire has canceled its pioneering bitcoin bond plan at the last minute, a plan that was expected to become the first state-issued rated bitcoin-backed bond. The New Hampshire Executive Council voted 3-2 to terminate the project, citing concerns about the state's financial reputation. The bond was issued by the New Hampshire Business Finance Authority and backed by private bonds related to bitcoin mining and data center company Cleanspark, with an amount of up to $100 million. Long-time crypto advocate and State House Majority Leader Keith Ammon said on social media: "This is an extremely shortsighted decision. They should gather all the relevant facts and information and reconsider their vote at a future meeting." He also noted that the election year is critical for council members, and just one vote could change the outcome, adding: "We will not give up." New Hampshire has been a leader in establishing crypto policy, becoming the first state to establish a crypto reserve last year, far ahead of still-incomplete federal efforts.
BTC3.18%
CLSK3.95%
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ButterStop-LossLine
· 5h ago
Other states are waiting to copy the homework, but the workbook has been torn up.
View OriginalReply0
OracleSkeptic
· 5h ago
Fiscal reputation? When traditional finance collapsed like that, why didn't anyone mention reputation?
View OriginalReply0
ApyDaydreamer
· 5h ago
$100 million is really nothing for state finances; risk aversion is excessive.
View OriginalReply0
GlowingHotAirBalloon
· 5h ago
Keith Ammon is right, it's indeed shortsighted to do this in an election year. New Hampshire could have made history.
View OriginalReply0
MarketMakingForMoonlitDeepPool
· 5h ago
Cleanspark was let down this time, and the path for state-level financing in the mining industry has narrowed a bit more.
View OriginalReply0
AuroraStone
· 5h ago
3-2 votes, one vote short.
View OriginalReply0
TheRedTelephoneBoothInTheRuins
· 5h ago
Last year established reserves, this year stopped bonds; policy continuity is concerning.
View OriginalReply0

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