The state’s executive council voted 3-2 against the bond project in its final approval stage.
By Jesse Hamilton|Edited by Nikhilesh DeUpdated Jul 9, 2026, 10:22 p.m. Published Jul 9, 2026, 10:19 p.m. 1 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on New Hampshire has abandoned its $100 million bitcoin bond initiative. (Nils Huenerfuerst/Unsplash)SummaryShow- New Hampshire has scrapped its bid to create a pioneering bitcoin bond.
- The executive council voted against the proposal, with a narrow 3-2 margin.
In a last-minute decision, New Hampshire has opted out of a bold plan aimed at launching what would have been the first state-rated bitcoin-backed bond, with a governmental body ultimately canceling the initiative.
Just months after Moody's Ratings assigned a Ba2 rating to the bond, the New Hampshire Executive Council, responsible for reviewing significant financial decisions, delivered a final verdict with a 3-2 vote that reflected concerns over the state's fiscal reputation.
The proposed financial instrument was intended to be issued by the Business Finance Authority of the State of New Hampshire, supporting a private-sector bond worth up to $100 million linked to CleanSpark, a firm involved in Bitcoin mining and data centers. The council's vote marked the conclusion of the approval process.
"This decision reflects a lack of foresight," stated Keith Ammon, a long-time advocate for cryptocurrency and the majority floor leader in the New Hampshire House of Representatives, on social media platform X. "They should review all pertinent information and reconsider their decision in a future session."
Ammon further mentioned to CoinDesk that as it is an election year for council members, a single vote could change the outcome, asserting, "We are not giving up on this initiative."
New Hampshire has been at the forefront of establishing crypto regulations, having been the first state to create a crypto reserve last year, well ahead of ongoing federal initiatives.
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By CoinDesk ResearchJul 7, 2026The stablecoin market cap declined to $312B in June, marking its largest monthly drop since TerraUSD, while tokenized equity volumes soared 145% to a record $3.86B.
Why it matters:
The stablecoin market cap declined to $312B in June, marking its largest monthly drop since TerraUSD, while tokenized equity volumes soared 145% to a record $3.86B.
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