Connecticut has officially banned state and local governments from investing in or holding cryptocurrencies under new legislation.
The bill, H.B. 7082, was unanimously approved by both the House of Representatives and the Senate and was enacted as Public Act No. 25-66. The law explicitly prohibits government entities from:
- Purchasing, holding, or investing in crypto assets.
- Establishing a cryptocurrency reserve.
- Accepting cryptocurrencies as a form of payment.
In addition, the legislation imposes stricter disclosure requirements on cryptocurrency companies engaged in money transfer, requiring clear and visible risk warnings in English.
It also introduces protections for minors, requiring parental verification for users under the age of 18.