Connecticut halts all public investment in digital assets while other U.S. states move toward strategic bitcoin reserves.
Connecticut has taken a firm stance against digital assets by approving legislation that categorically prohibits all levels of state and local government from investing in Bitcoin and other cryptocurrencies.
On June 10, the Connecticut General Assembly published the final text of bill H.B. 7082, which has now become Public Act No. 25-66. The legislation was passed unanimously by both the House and the Senate, signaling bipartisan agreement on the need to keep public finances away from the cryptocurrency market.
The new law establishes an outright ban on government entities purchasing, holding, or investing in Bitcoin and other cryptocurrencies. It also prohibits the creation of any “virtual currency reserve” and the acceptance of crypto payments.
In addition to restrictions on the public sector, the State’s legislation introduces consumer protection measures for private individuals. Crypto businesses operating as Money Service Businesses will now be required to disclose all material risks associated with cryptocurrencies through “clear, conspicuous and legible writing in the English language.”
Another provision addresses the protection of minors: the new law mandates legal guardian verification for all users under the age of 18.
While Connecticut adopts a restrictive position toward digital assets, several other U.S. states are moving in the opposite direction. New Hampshire became the first state to pass a bill for a strategic bitcoin reserve, followed by Arizona.