U.S. State Bans Government Holdings in Bitcoin and Crypto
Connecticut has enacted one of the strongest anti-crypto measures in the U.S., cutting off state-level interaction with digital assets.
Governor Ned Lamont signed a bill on June 30 that prohibits all state agencies from investing in or accepting cryptocurrencies, including Bitcoin.
The legislation, House Bill 7082, also imposes strict disclosure requirements on virtual currency firms operating in the state. Companies must clearly warn customers about the irreversible nature of transactions and common scams involving identity theft, impersonation, and social engineering.
Lawmakers say the move is meant to shield consumers from the unpredictable nature of digital assets. The bill passed unanimously through the state legislature, signaling rare bipartisan agreement on the issue.
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In contrast, states like Texas, Arizona, and New Hampshire are moving to incorporate Bitcoin into their public reserves. Texas recently approved legislation to allow taxpayer funds to be allocated toward Bitcoin holdings.
Across the U.S., 48 proposals related to state-managed crypto reserves are under consideration, highlighting the growing divide over how government entities should engage with digital currencies. Connecticut has chosen caution—others see crypto as the future of public finance.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
