Connecticut lawmakers unanimously approved a bill prohibiting the acceptance of cryptocurrency payments and holding crypto assets by state and local government entities. The bipartisan House Bill 7082, known as “An Act Concerning Various Revisions to the Money Transmission Statutes, State Payments and Investments in Virtual Currency,” was signed into law. The legislation states that neither the state nor any political subdivision can accept crypto payments or purchase crypto assets. Connecticut is among the few states in the US to reject the idea of crypto asset reserves. The bill, introduced in February 2025, received broad support from Democrats and passed with overwhelming votes. Some speculate that the ban is driven by concerns over volatility and regulation, while others see it as a symbolic opposition to cryptocurrency. Despite the ban, the state governor still needs to sign the law, which includes additional disclosure requirements for money transmitters in the private sector. Read more AI-generated news on: https://app.chaingpt.org/news