Supporters of the House Bill 7082 see the bill as a cautious approach designed to protect public funds from crypto volatility and fraud risks

Quotes that support claims

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.