On June 11, 2025, Connecticut lawmakers unanimously passed House Bill 7082, prohibiting state and local government divisions from accepting cryptocurrency payments and holding crypto assets. The bill received bipartisan support.
The bill stipulates that “neither the state nor any political subdivision of the state” shall accept payments in cryptocurrency or purchase crypto assets. It also prohibits the state of Connecticut from establishing a crypto asset reserve. In addition, the bill strengthens the regulation of private – sector money transmitters, requiring them to disclose all material risks related to cryptocurrencies. It also requires that cryptocurrency users under the age of 18 be verified by their legal guardians.
The ban was likely driven by concerns over the volatility and regulatory uncertainty of cryptocurrencies, as well as the need to protect taxpayer funds. Connecticut state treasurer Erick Russell emphasized the need to protect taxpayer funds from “speculative and unregulated” assets. In addition, the ban may also be related to the Democratic Party’s majority in Connecticut and its broader criticism of President Trump’s involvement with meme coins and digital assets.
This move by Connecticut contrasts with the trend in some other US states that are embracing cryptocurrencies. For example, New Hampshire has become the first state in the US to pass a “Bitcoin Strategic Reserve Bill”, and Arizona has also advanced relevant bills. At the same time, it also differs from the federal government’s approach. President Trump signed an executive order in March 2025 to establish a strategic bitcoin reserve, positioning bitcoin as a national reserve asset.
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