New Hampshire, in the United States, suspended a bitcoin-related bond arrangement at the final approval stage. The three-to-two votes of the State Executive Committee prevented the final passage of the financing scheme, which could have been the first to land.
Final approval of project stoppage
The tool was originally planned to be launched by the New Hampshire Commercial Finance Authority to support a private sector bond of up to $100 million. The arrangement is linked to the Bitcoin Mining and Data Centre company, CleanSpark.
Moody's bond was given a Ba2 rating before entering the final vote. The project was eventually rejected by the Executive Committee, which reviewed major financial actions in the canton.
The opposition focused on its financial reputation.
Reports indicate that opposition is mainly focused on the financial reputational risks of state governments. The Executive Committee eventually ended the financing arrangement by standing on the side of the opposition.
New Hampshire Congressman Keith Ammon, a long-standing supporter of encryption policy, then stated on X that the decision was “very short-sighted” and called on the Committee to reconsider it at future sessions.
Proponents say they will continue to push.
Ammon indicated to CoinDesk that this is an election year for members of the Executive Committee, and that there is a very small difference in the number of votes, and that the result may be different if one member changes his position. He stated that the proponent would not give up.
- Final vote is 3 to 2
- Top original support of $100 million
- Related business is
New Hampshire has moved faster on state-level encryption in recent years. It was mentioned in the report that the State had taken the lead last year in setting up an encrypted storage mechanism. The absence of this bond project is an attempt to demonstrate a combination of Bitcoin and public financing and remains constrained by government credit and fiscal image factors.