News View Non-AMP

Connecticut Passes Bill that Bans State from Bitcoin and Virtual Currency Investments

Published by
Steve Muchoki

The state of Connecticut has passed a law to prohibit the state from investing in Bitcoin (BTC) or in any other virtual currency. The bill dubbed HB7082 and officially titled “An Act Concerning the Regulation of Virtual Currency and State Investments” imposed a comprehensive ban for the state and local governments from investing into crypto assets. 

The law also introduced new stringent regulations for crypto business within Connecticut’s jurisdiction. Notably, payment applications handling crypto assets in Connecticut must henceforth verify parental consent for users under the age of 18.

The bill also stipulated that crypto businesses must adhere to strict anti-money laundering  (AML) compliance.

Connecticut Moves Against the Wave for Bitcoin Adoption

As Coinpedia has severally reported, several states in the United States have been pushing towards implementing a strategic Bitcoin Reserve (SBR). The states have been following a similar stance by the Donald Trump administration, which intends to implement an SBR in the near future.

Earlier on Tuesday, the state of Louisiana announced that it will form a committee to study artificial intelligence (AI), blockchain, and cryptocurrency.

“WHEREAS One in five Americans owns cryptocurrency…it is in the interest of Louisiana to consider the benefits and challenges of these technologies,” the state noted. 

Steve Muchoki

Steve is a crypto news writer with a passion for decoding market moves. He blends breaking blockchain news with sharp technical analysis and bold price predictions. From Bitcoin rallies to altcoin breakouts, Steve breaks it all down with clarity and insight. Whether you're a trader or just curious, his analysis keeps you ahead of the curve.

Recent Posts

Crypto Market Today, July 3rd: Ethereum Price USD, SUI Crypto, Ripple (XRP) News, Pi Network Price

July 3, 2025 03:06:43 UTC Bitcoin Price Today, BTC/USD Bitcoin is testing the upper end…

July 3, 2025

XRP Price Prediction As Ripple Applies for U.S. National Bank License

Ripple has officially applied for a national banking license in the United States. If approved,…

July 3, 2025

Is Bitcoin Price Poised for a Historical Rally in July Fueled By Institutional Investors?

After closing June in the highest monthly close since inception, Bitcoin (BTC) price has signaled…

July 3, 2025

Donald Trump Net Worth Gets a Crypto Boost, $620M in Just Months!

US President Donald Trump’s name has long been tied to big hotels, golf resorts, and…

July 3, 2025

US Housing Chief Hits Fed Chair Powell with $2.5B Misused — Here’s Why

A new fight is heating up in Washington. US Federal Housing Finance Agency, William J.…

July 2, 2025

Ripple Eyes U.S. Banking License Amid Regulatory Push

Ripple Labs, a blockchain-based cross-border company, has filed for a national banking license with the…

July 2, 2025