New Hampshire Pioneers Bitcoin-Backed Bond Amidst Calls for Strong Stablecoin Regulation
New Hampshire Pioneers Bitcoin-Backed Bond Amidst Calls for Strong Stablecoin Regulation
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New Hampshire authorities are set to issue a $100 million bond collateralized by Bitcoin, with BitGo designated as the custodian and liquidation agent. This move, despite receiving a speculative-grade rating from Moody’s, marks a significant step in institutional adoption of digital assets. Concurrently, Federal Reserve's Michael Barr has emphasized the need for stringent regulatory and technological oversight for stablecoins, referencing a 'long and painful history' to advocate for measures preventing their use in illicit activities.