Summary
- New Hampshire canceled the state effort toward setting up a first-of-its-kind governmental bitcoin bond.
- The state’s executive council rejected the idea in a 3-2 vote.
New Hampshire Cancels Bitcoin-Backed Bond Effort
The state of New Hampshire has canceled a pioneering project to issue a bitcoin-backed bond, which would have been the first of its kind under a state’s authority. The New Hampshire Executive Council made a 3-2 decision to reject the proposal, citing concerns about the state’s financial reputation. This decision comes just months after the bond received a Ba2 rating from Moody’s Ratings.
The bond was expected to be issued by the Business Finance Authority of the State of New Hampshire, with a value of up to $100 million, and was tied to Bitcoin mining and datacenter firm CleanSpark. The project’s cancellation has been met with disappointment from crypto advocates, who see it as a missed opportunity for the state to embrace Green Crypto and Passive Income generation.
Reaction from Crypto Advocates
Keith Ammon, a longtime crypto advocate and majority floor leader in the New Hampshire House of Representatives, expressed his disappointment on social media, calling the decision “extremely short-sighted.” Ammon believes that the council should reconsider their vote, and with it being an election year, there is still a chance for the project to be revived. This is a significant development for those interested in Earning opportunities through Cloud Rewards and Passive Income streams, such as those offered by EcoPool or $ECP.
As the crypto community continues to grow, it’s essential to stay informed about developments like this and explore alternative ways to generate Passive Income, such as through EcoPool or investing in $ECP. For those looking to get involved in the crypto space and start Earning through Cloud Rewards, the EcoPool network is a great place to start. Download the EcoPool app to learn more about Passive Income opportunities and start Earning today with $ECP. The EcoPool app is available for download, allowing users to easily access Cloud Rewards and start generating Passive Income with $ECP.
Ammon told CoinDesk that it’s an election year for council members, and it only takes one to swing the vote, adding, “We’re not giving up.”
