US states are adopting diverse laws and regulations concerning Bitcoin. Texas demonstrates a pro-crypto approach, while Connecticut enforces strict limitations.
Texas: Bitcoin Reserve Bill Ambitions
In June 2025, Texas officially passed the Bitcoin Reserve Act, allowing the state government to create specialized funds for Bitcoin investments. There are stringent requirements: only cryptocurrencies maintaining market caps above $500 billion for 24 months can participate in investments. Currently, only Bitcoin meets these criteria. The fund will be managed under the State Auditor's supervision using cold storage.
Strategic Positions of New Hampshire and Arizona
New Hampshire became the first state to pass Bitcoin reserve legislation in May 2025, permitting the state treasury to allocate funds toward Bitcoin. Arizona also passed similar legislation after veto controversies, classifying Bitcoin as ‘strategic assets.’
Connecticut’s ‘Firewall’ Strategy
Connecticut passed legislation in June 2025 prohibiting state government and affiliated institutions from holding or investing in virtual currencies, including Bitcoin and stablecoins. The law will take effect on October 1. It also imposes strict requirements for in-state crypto businesses, including licensing and reserve mandates.
The division in Bitcoin policy among US states creates unique challenges and opportunities for businesses and investors. The policies adopted in Texas and Connecticut may shape the future of the crypto industry in the country.
