New Hampshire’s executive council votes against a proposal to bring a bitcoin-backed municipal bond to the state’s bond market, according to Bloomberg and Seeking Alpha. The measure would have been the first bitcoin-backed bond available in New Hampshire’s municipal market. In the vote, the council does not grant the required sign-off, meaning the proposed issuance does not move forward under the state’s approval process. The reports describe the decision as a rejection by the executive council rather than final action by market participants. With the sign-off denied, the plan to structure municipal debt with bitcoin-related backing is halted at the state level. The outcomes leaves the proposal without the regulatory or administrative approval needed to proceed, while the municipal market continues to operate under existing frameworks. The reports do not indicate whether the state will revise and resubmit a modified proposal or pursue a different approach for digital-asset-linked municipal offerings.