worldcoinindex.com
In a move that starkly contrasts with rising digital asset adoption across the U.S., Connecticut has passed House Bill 7082, formally outlawing state investment, holding, or acceptance of Bitcoin and other cryptocurrencies.
The legislation, approved unanimously by both chambers of the state legislature, signals a rare bipartisan consensus—one that rejects the inclusion of crypto assets in state financial planning. HB7082 not only bans virtual currency dealings but also tightens oversight of money transmitters. Key provisions include a strict 1:1 reserve requirement, mandatory risk disclosures for users, and added safeguards for elderly residents and large-scale financial transfers.
A Departure From the National Direction
While Connecticut clamps down, several other states are warming up to the idea of integrating digital assets into public finance. New York is evaluating a bill to allow crypto payments for state fees and taxes. New Hampshire has already launched a state-level Bitcoin Reserve, limited to crypto assets with market caps exceeding $5 billion.
Even under the Trump administration, there were efforts at the federal level to explore a “Strategic Bitcoin Reserve,” marking a more open stance than Connecticut’s recent pivot.
A Broader Cooling Trend?
Despite growing support in some regions, not all crypto-friendly policies are gaining traction. In Florida, proposals to invest up to 10% of public funds into Bitcoin were shelved after the legislative session ended on May 3. Meanwhile, Arizona Governor Katie Hobbs recently vetoed two crypto-focused bills—SB 1373 and SB 1024—stalling digital asset integration there as well.
Connecticut’s ban reinforces a larger narrative: U.S. states remain deeply divided over the future of crypto in public finance. As some jurisdictions forge ahead with Bitcoin-backed initiatives, others are stepping firmly in the opposite direction.