The US Connecticut state officially adopted the HB7082 bill, marking a significant turning point because it completely prohibits state investments in Bitcoin and other cryptocurrencies.
This decision goes against the broader trend observed in several other American states, where bitcoin and digital assets are adopted or integrated into financial policies.
Connecticut prohibits investment and state assets in Bitcoin
According to Bitcoin laws, Connecticut has adopted legislation that prohibits the State from investing in Bitcoin. Bill HB7082 prohibits the State from accepting, holding or investing in any type of virtual currency.
In particular, the Senate and the Chamber of the State adopted HB7082 with unanimous approval and no opposing vote. This reflects a firm and unified position of the state government.
The bill prohibits investment and introduces stricter regulations for money issuers. This is in particular a reserve requirement 1: 1, detailed disclosure of risks for users and special protections for the elderly and important transactions.
Connecticut seems to move opposite the wider American landscape. Under the Trump administration, the federal government has created a “Bitcoin Strategic Reserve” and held meetings with cryptographic investors.
Meanwhile, other states take more user -friendly measures. New York examines a bill that would allow residents to use cryptocurrencies like Bitcoin and Ethereum to pay state-related obligations such as taxes. New Hampshire has become the first American state to create a bitcoin reserve, allowing investments in cryptographic assets with a market capitalization of more than $ 5 billion.
Skepticism and the debate surrounds the decision of the Connecticut
After Connecticut’s decision, many industry leaders expressed their disappointment. Matt Hougan, Cio de Bitwise, replied with sarcasm. He suggested that the ban on Bitcoin was not a rational economic decision, but rather that motivated by personal frustration or special interests.
“Hell fund managers were so upset that they couldn’t beat Bitcoin …,” said Hougan.
While many investors considered Connecticut as a short seen, Kevin, CEO of Hummingbird, suggested that this decision could in fact be a strategic diversification game. He suggested that this could benefit Connecticut residents who work in New York, one of the main financial centers in the United States.
“This is a diversification game for all the people who live in Connecticut and work in New York. They want their financial funds to buy the BTC that the State is forced to sell. Why your state government has it when your New York coverage fund can make money. This is actually optimistic! ” Said Kevin.
In reality, the Bitcoin reserve movement in the United States seems to slow down. In Florida, two bills – H0487 and S0550 – which proposed to use up to 10% of the public funds to invest in Bitcoin were withdrawn when the legislative session ended on May 3.
In addition, in Arizona, Governor Katie Hobbs opposed two bills linked to the crypto – SB 1373 and SB 1024 – effectively blocking efforts to integrate digital assets into public finances in the state.
These developments highlight clear policy differences between states. They underline the growing fracture between American legislators concerning their opinions on Bitcoin.
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