Connecticut Bans State and Local Governments From Investing in Crypto Assets

The state of Connecticut is barring itself and its local governments from being able to invest in digital assets.

Connecticut has passed House Bill 7082, which bans state and local governments from being able to invest in crypto assets as well as accept them as payments starting October.

“(Effective October 1, 2025) Neither the state nor any political subdivision of the state shall (1) accept or require payment in the form of virtual currency for an amount due to the state or the political subdivision, or (2) purchase, hold, invest in or establish a reserve of virtual currency.”

The bill also prohibits the state from establishing a crypto strategic reserve, a concept already signed off on by President Donald Trump at the federal level.

Though the number of bills attempting to follow the Federal government’s footsteps to establish a strategic Bitcoin (BTC) reserve has risen to 31, Connecticut joins a handful of states that have rejected the idea in one way or another, including Montana, Wyoming, South Dakota, North Dakota, Oklahoma, Arizona, Utah, Florida and Pennsylvania.

House Bill 7082 – which received bipartisan support – was voted on by the State’s Congress on May 30th and received 148 votes in favor and zero votes against it from the House of Representatives and 36 votes in favor and zero votes against it from the Senate, according to state records.

Generated Image: DALLE3