Connecticut Enacts Stricter Cryptocurrency Regulations for Public and Minors

Connecticut has passed legislation prohibiting government agencies from engaging with cryptocurrencies, effectively banning the purchase, holding, or transactions of digital assets. Additionally, the law restricts state entities from accepting cryptocurrency payments or forming reserves of virtual currencies. Public Act No. 25-66 now implements these restrictions. H.B. 7082**, passed unanimously by both chambers of the Connecticut General Assembly, also establishes stricter guidelines for crypto businesses operating in the state. Companies involved in money transmission are now required to disclose all material risks associated with crypto transactions in clear and comprehensible English. Furthermore, minors under 18 years old will require legal guardian verification before accessing crypto-related services to ensure proper parental oversight. Connecticut’s stance underscores its commitment to regulating cryptocurrency within a national debate on digital asset integration into public finance and consumer protection.

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