The post Connecticut Bans Public Bitcoin Reserve and Crypto Payments Under New Law appeared on BitcoinEthereumNews.com.

Connecticut bans state use of cryptocurrency, blocks public Bitcoin reserves. New law enforces strict crypto rules, mandates user protections. Platforms must give receipts, disclose asset custody, and protect minors. Recently, Connecticut passed a major law that bans the state from using or investing in cryptocurrencies. This bill, known as HB 7082, prohibits the state and its local governments from accepting virtual currencies as payment or possessing any crypto assets. The new legislature, formally known as Public Act 25-66, will be enacted on October 1, 2025. Connecticut Adopts Strict Crypto Stance, Enforces User Protections To begin with, the bill introduces a clear legal definition of the term virtual currency based on the current state law. Such a broad definition encompasses the majority of cryptocurrencies, including Bitcoin and Ethereum. Therefore, the law puts a final seal on any future intentions of establishing a state-owned Bitcoin reserve. Notably, the bill was unanimously passed in the Connecticut legislature with the support of both parties. This bipartisan approval has a very happy consensus that is against any state-sponsored crypto activity. Connecticut is one of the states that, unlike some others that are examining the application of digital assets, has decided to adopt a wait-and-watch attitude by being strict. Along with prohibiting crypto investments, the law proposes a number of new regulations to companies dealing with cryptocurrency transactions. These are exchanges and applications that allow individuals to receive or send crypto. Detailed rules will now have to be observed by such companies in order to give greater protection to users. New Law Mandates Receipts, Asset Custody Transparency in Crypto First, these companies should make clear and understandable disclosures concerning the dangers of using crypto. Such warnings are supposed to be in English and must be displayed clearly to the users. They have to clarify such matters…

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Filed under: News - @ June 12, 2025 1:26 am