Connecticut’s move to ban state investments in Bitcoin and all virtual currencies is about risk aversion and strict consumer protection—lawmakers want no exposure to BTC’s volatility or potential for fraud in public funds.
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https://x.com/AlvaApp/status/1932702583925453184
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Connecticut’s move to ban state investments in Bitcoin and all virtual currencies is about risk aversion and strict consumer protection—lawmakers want no exposure to BTC’s volatility or potential for fraud in public funds. Strong bipartisan consensus drove HB7082, imposing tough rules on local crypto businesses, with 1:1 reserves, mandatory licenses, and extra safeguards for minors and seniors.
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Some local traders and startups see this as a major barrier, fearing it might push fresh investment and talent to more crypto-friendly states—want to dig into what this means for the state’s fintech future, or how younger residents might react?
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