Many provisions of the legislation, which received overwhelming support in the state House and Senate, take effect on Oct. 1.
Connecticut Governor Ned Lamont has signed a bill into law restricting the use of digital assets in state government, including the establishment of a cryptocurrency reserve.
On Monday, Lamont signed Connecticut House Bill 7082, which was previously approved by the US state’s House of Representatives and Senate. The legislation specifically prohibits the state government from “accepting or requiring payment in the form of virtual currency” or “purchasing, holding, investing in or establishing” a crypto reserve.
The bill, introduced in February by state Representative Jason Doucette, also establishes requirements for crypto money transmission licensees in Connecticut. The provisions barring the state government from accepting crypto or establishing a digital asset reserve take effect on Oct. 1.
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