Key facts
- New Hampshire's Executive Council voted 3-2 to reject a $100 million Bitcoin-backed municipal bond.
- Supporters claimed the bond would have been the world's first of its kind and posed no risk to taxpayers.
- The rejection effectively shelves the proposed bond issuance.
New Hampshire's Executive Council has voted against a proposed $100 million municipal bond that would have been backed by Bitcoin. The council's decision, a 3-2 vote, effectively halts the issuance of what supporters argued would have been the world's first such financial instrument. Proponents of the bond had contended that it carried no risk to taxpayers, highlighting the potential for innovation in municipal finance. However, the council ultimately decided against moving forward with the proposal.