- New Hampshire’s executive council voted 3-2 against a $100 million BTC-backed bond proposal
- The proposal had support from Governor Kelly Ayotte and the Business Finance Authority but was rejected by three councilors
- State Representative Keith Ammon called the decision “extremely short-sighted” and urged reconsideration
- Moody’s had assigned the Bitcoin bond a provisional Ba2 rating, while critics warned of “substantial risk” to residents
New Hampshire’s executive council voted 3-2 against a proposal on Wednesday that would have allowed the state to issue $100 million in bonds backed by Bitcoin (BTC). The five-member panel rejected the measure despite prior approval from the New Hampshire Business Finance Authority (BFA) in November 2025 and support from Governor Kelly Ayotte.
Councilors Karen Liot Hill, Dave Wheeler, and Janet Stevens voted against the measure, while Joseph Kenney and John Stephen approved it. State Representative Keith Ammon said in a Thursday X post, “It was an extremely short-sighted decision.”
The crypto investment vehicles, issued by the BFA with CleanSpark putting up BTC as collateral, would have marked New Hampshire’s continued adoption of digital asset policies after its May 2025 crypto reserve law. However, some experts warned the proposal carried “substantial risk” for residents, and Moody’s assigned the Bitcoin bond a provisional Ba2 rating in March.
Meanwhile, some have speculated that New Hampshire could join the legal fight challenging the Commodity Futures Trading Commission‘s authority over prediction markets. State Senator Tim Lang reportedly planned to introduce legislation restricting prediction markets in April, though platforms remained live in the state as of Friday.
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