New Hampshire snuffs out trailblazing state-government bitcoin bond effort
The New Hampshire Executive Council has rejected a proposed $100 million state-backed bond tied to Bitcoin mining firm CleanSpark. Despite the setback, crypto advocates in the state legislature remain committed to pursuing future crypto-financial initiatives.
Why it matters
This decision reflects the ongoing tension between state-level efforts to integrate cryptocurrency into public finance and concerns regarding financial stability and reputation.
Just a few months after Moody's Ratings gave the bond a Ba2 rating , the New Hampshire Executive Council, which reviews major state financial actions, slammed the door with a 3-2 decision that sided with those concerned about the state's financial reputation.
The article presents both the council's decision and the perspective of crypto advocates neutrally.
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