New Hampshire Council Rejects $100 Million Bitcoin-Backed Municipal Bond
Updated
Updated · Bloomberg · Jul 9
New Hampshire Council Rejects $100 Million Bitcoin-Backed Municipal Bond
3 articles · Updated · Bloomberg · Jul 9
Summary
$100 million of taxable municipal bonds proposed by the New Hampshire Business Finance Authority failed to pass the state executive council on Wednesday, blocking what would have been the first Bitcoin-backed municipal bond sale.
Jefferies was set to manage the deal through a private placement, but the council’s vote denied the approval needed for a conduit issuer to sell the bonds.
The rejection halts an attempted entry for Bitcoin-backed debt into the municipal market, leaving the structure without state authorization to proceed.