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

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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.