According to Bloomberg, the New Hampshire Executive Council has rejected a proposal for Bitcoin-backed municipal bonds, declining to approve the state’s Business Finance Authority to issue $100 million in taxable municipal bonds through a private placement. Under the proposal, the borrower would be Bitcoin mining company CleanSpark, which planned to provide $175 million worth of Bitcoin as collateral. If the collateral value fell below $140 million, liquidation would be triggered. The bonds’ principal and interest would be fully covered by the Bitcoin collateral, with no involvement of public funds or taxpayer money. Opposing council members argued that the proposal failed to bring direct infrastructure benefits to the state and that the government should not endorse financing tied to highly volatile crypto assets. https://www.(wublock123.com)/news/new-hampshire-vetoes-100m-bitcoin-backed-municipal-bonds-64335