The state of Connecticut has unanimously passed a sweeping new law that prohibits government agencies from investing in or holding any form of cryptocurrency.
Under bill HB7082, state institutions are officially banned from purchasing, holding, or making investments in Bitcoin or any other digital assets. Additionally, the law forbids public entities from accepting payments in cryptocurrencies or establishing any form of crypto reserves.
The legislation also imposes new requirements on money transfer businesses, mandating that they clearly disclose all risks associated with cryptocurrencies to customers in plain English. Furthermore, users under the age of 18 will now need parental consent to engage in crypto-related activities. At a time when other U.S. states are moving to create strategic Bitcoin reserves, Connecticut’s hardline stance highlights the growing regulatory divide across the country.
