According to Bloomberg, the Executive Council of New Hampshire, USA, vetoed a Bitcoin-backed municipal bond issuance plan, declining to approve a $100 million taxable municipal bond offering by the state's Business Finance Authority through a private placement. Under the plan, the borrower would be Bitcoin mining firm CleanSpark, providing $175 million worth of Bitcoin as collateral. If the collateral value falls below $140 million, liquidation would be triggered. The bond's principal and interest are fully covered by the Bitcoin collateral, involving no public funds or taxpayer money. Opposing council members argued that the plan does not bring direct infrastructure benefits to the state and that the state government should not endorse financing tied to highly volatile crypto assets.