Connecticut's bipartisan support for HB7082 reflects strong political consensus on stringent crypto regulation focused on consumer safety

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.

The bill prohibits investment and introduces stricter regulations for money transmitters. These include a 1:1 reserve requirement, detailed risk disclosures for users, and special protections for seniors and large transactions.