Connecticut has enacted legislation that prohibits government entities from participating in cryptocurrency transactions. The law also includes new requirements for crypto businesses and protective measures for minors.
Ban on Government Crypto Holdings
Legislation H.B. 7082 was unanimously passed by both chambers of the Connecticut General Assembly and is now listed as Public Act No. 25-66. It bars government agencies from buying, holding, or transacting in crypto assets.
New Requirements for Crypto Businesses
The act introduces new disclosure standards for crypto businesses operating in the state. Companies involved in money transmission must now present all material risks of crypto transactions in clear, legible English.
Protection for Underage Crypto Users
The law also adds safeguards for minors, mandating legal guardian verification for any user under the age of 18 before using crypto-related services.
Connecticut's move illustrates its determination to regulate cryptocurrencies and protect users amid a global debate about digital assets.
