Connecticut Bans Cryptocurrency Investments Amid National Trend
Connecticut has enacted a ban on cryptocurrency investments, countering trends in other U.S. states pursuing digital asset reserves. The Connecticut General Assembly passed a bill preventing state government from purchasing, holding, or accepting virtual currency payments.
- The bill passed unanimously in both the House and Senate.
- This decision contrasts with states like New Hampshire and Texas, which are exploring cryptocurrency reserves.
- Connecticut also tightened regulations for crypto firms under its money-transmitter license.
- No federal reserve of digital assets has been established yet; efforts are ongoing to account for existing holdings.
- California is considering a pilot program for digital asset payments following legislative approval.
Advocates remain hopeful for future changes in Connecticut as more states adopt pro-crypto legislation.