01.07.2025 05:52

Connecticut has officially joined the ranks of states prohibiting public investment in digital assets, including Bitcoin. Governor Ned Lamont's signature on House Bill 7082, finalized on June 30th, 2025, cemented this decision, setting Connecticut apart from a growing number of US states and international entities embracing cryptocurrency.

Initially introduced in February 2025 and championed by a bipartisan group of lawmakers including Representative Kenneth Gucker, Senators Patricia Miller and Matthew Lesser, and Representative Jason Doucette, the bill gained significant traction. It sailed through the House on May 14th with a commanding 105-42 vote and subsequently received unanimous approval from the Connecticut General Assembly—148-0 in the House and 36-0 in the Senate on May 30th.

The newly enacted law explicitly prevents any state entity or political subdivision from engaging in any form of virtual currency transaction. This comprehensive ban encompasses accepting payments, holding reserves, investing in, or purchasing virtual currencies, as clearly stated in HB 7082's provision: "Neither the state nor any political subdivision… shall (1) accept or require payment… in virtual currency… or (2) purchase, hold, invest in or establish a reserve of virtual currency."

Beyond the investment ban, the legislation also establishes robust consumer protection measures. Businesses handling virtual currency transactions are now mandated to clearly disclose inherent risks, including the potential for unrecoverable losses, the absence of governmental backing or insurance, and the irreversible nature of transactions. Furthermore, operators of virtual currency kiosks face particularly stringent compliance demands, including rigorous identity verification protocols, prevention of high-risk wallet usage, and transaction limits. These regulations aim to mitigate the risks associated with digital asset transactions for Connecticut residents.