Connecticut has become the first state in the U.S. to officially enact a law banning the use of cryptocurrency in state finances. This law, known as HB 7082, was signed by Governor Ned Lamont.
The Essence of the New Law
According to law HB 7082, neither the state nor any of its political subdivisions can accept or solicit payment in the form of cryptocurrency, nor can they purchase, hold, invest in, or establish a reserve of cryptocurrency. This decision significantly limits the use of digital currencies in government management.
Expert Reactions
Some cryptocurrency experts believe that this law is necessary to address risks associated with digital currencies. At the same time, several specialists argue that the law stifles innovation both within the state and across the country.
Comparison with Other States
Connecticut's actions set it apart from other U.S. states such as Texas, Arizona, and New Hampshire, which have taken positive steps toward the adoption of digital assets. For example, New Hampshire was the first state to enact the "Strategic Bitcoin Reserve" (SBR) model, allowing digital assets to be utilized at the state level.
The passage of the law in Connecticut raises questions about the future of cryptocurrency policy in the U.S. While some states are taking steps toward the acceptance of digital assets, others, like Connecticut, are implementing restrictive measures.
