New Hampshire Executive Council Rejects Bitcoin Bond Project
New Hampshire has canceled its plan for a $100 million bitcoin bond, with the state's executive council voting 3-2 against it. The decision follows a previous Ba2 rating from Moody's Ratings, indicating significant skepticism about the project's financial implications, as reported by CoinDesk.
New Hampshire's executive council recently voted against a proposed $100 million bitcoin bond project, marking a significant setback for efforts to integrate cryptocurrencies into governmental finance. The proposal, which was expected to be the first rated, bitcoin-backed bond issued by a state authority, was rejected in a tight 3-2 vote.
The bond was to be issued by the Business Finance Authority of the State of New Hampshire, and a related private-sector bond was linked to the bitcoin mining firm CleanSpark. Despite receiving a Ba2 rating from Moody's Ratings earlier this year, concerns about the risks this financial instrument posed to the state’s financial reputation ultimately led to its rejection.
Keith Ammon, a vocal supporter of cryptocurrency legislation and majority floor leader in the New Hampshire House of Representatives, criticized the decision as "extremely short-sighted." He emphasized the need for the council to reconsider the proposal in light of all relevant facts, particularly since it's an election year for council members. "We’re not giving up," he stated, indicating potential for future re-evaluation.
This cancellation signifies a retreat from New Hampshire's previous leadership role in establishing forward-thinking crypto policies, which included being the first state to create a crypto reserve last year. The council's decision may have broader implications for how other states view the integration of cryptocurrencies into public finance.
The failure of New Hampshire's bitcoin bond also reflects a growing caution among public officials regarding the incorporation of cryptocurrency into state financial operations. As the landscape of crypto regulation continues to evolve, it will be crucial to monitor reactions from state governments and any subsequent attempts to innovate in this space.
Summary based on original reporting by Jesse Hamilton at CoinDesk, originally published Jul 9, 2026. SolanaWire does not republish source content.
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