<ul data-eligibleForWebStory="true"><li>Connecticut passed legislation, HB 7082, banning state investment in Bitcoin on June 11, 2025.</li><li>HB 7082 enforces strict money transmission laws with new rules for crypto businesses and payment apps.</li><li>The law mandates licensing requirements for companies handling crypto transactions, including digital wallets, exchanges, and Bitcoin ATMs.</li><li>Crypto services now need to hold 1:1 reserves and issue clear risk warnings, prohibiting them from lending customer funds.</li><li>Additional fraud protection measures are mandated for seniors and large transactions to prevent scams.</li><li>The legislation prohibits state and local agencies from accepting or investing in cryptocurrency.</li><li>Stricter rules are imposed on payment applications like Venmo and Cash App, requiring verified parental consent for minors to open accounts.</li><li>The law aims to protect consumers by introducing rigorous regulations for crypto and digital payments.</li><li>The move coincides with a significant increase in Bitcoin's value, with BTC currently trading at around $109,800 and experiencing a 3.67% weekly gain.</li></ul>

Connecticut Bans State Investments in Bitcoin Under New Law

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