Connecticut has enacted HB-7082, a law that prohibits the state from investing in Bitcoin (BTC) and other digital assets. This legislation, which passed unanimously in both the House and Senate, requires crypto-related remittance agencies to verify parental consent for users under the age of 18. Officially titled “An Act Concerning the Regulation of Virtual Currency and State Investments,” the bill imposes a total ban on state and local governments from investing in crypto assets. It also prevents Connecticut and its political subdivisions from accepting payment in virtual currency, as well as from purchasing, holding, investing in, or maintaining a reserve of digital currencies. Additionally, it mandates that crypto businesses comply with stringent anti-money laundering (AML) regulations.

The law restricts minors’ access to certain money-sharing apps by placing responsibilities on these businesses. Beginning October 1, 2025, no company may sponsor, open, or create an account for a minor in a money-sharing application without a signed attestation from the minor's parent.

Moreover, the new law enforces two main restrictions on how businesses that transmit money may handle cryptocurrency. Firstly, it forbids these companies from using virtual currency held on behalf of others, except for transactions directed by the individual. Secondly, it limits existing provisions that allow these businesses to utilize designated agents for money transmission.

Additionally, even with current authorizations, the law prohibits businesses from engaging or using any third party, including vendors of virtual currency control services, to store or manage cryptocurrency for customers unless that third party is a licensed money transmitter, a qualified bank or credit union, or approved by the banking commissioner. The bill defines a "virtual currency control services vendor" as an entity that controls virtual currency under an agreement with another person who holds that currency for a third party

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