10.06.2025 23:03

Connecticut recently enacted a new law prohibiting state-level investments in Bitcoin, marking a significant divergence from other U.S. states exploring strategic Bitcoin reserves. The legislation, HB 7082, passed on June 11th, 2025, significantly overhauls the state's money transmission laws and introduces stringent regulations for cryptocurrency businesses and payment applications.

HB 7082 mandates licensing for all entities facilitating cryptocurrency transactions within Connecticut, encompassing digital wallets, exchanges, and Bitcoin ATMs. Furthermore, the bill imposes robust financial requirements, demanding a 1:1 reserve ratio for all customer funds held by crypto service providers and mandating clear risk disclosures to users. This provision explicitly prohibits the lending of customer assets.

Beyond financial regulations, the law incorporates enhanced fraud protection measures, particularly focusing on safeguarding senior citizens and large transactions. A key aspect of the legislation is the explicit prohibition against state and local government agencies from accepting, holding, or investing in any form of cryptocurrency. The sweeping nature of the law also extends to popular payment applications like Venmo and Cash App, requiring verified parental consent for minors opening accounts.

This comprehensive regulatory framework aims to bolster consumer protection within the cryptocurrency and digital payments landscape. The law's implementation coincides with a notable surge in Bitcoin's value, reaching approximately $109,800 at the time of writing, reflecting a weekly increase of 3.67%. This action by Connecticut stands in contrast to the growing interest in Bitcoin among other states, highlighting a diverse approach to cryptocurrency regulation across the United States. The source for this information is internet resources.