The Digital Gold Rush is Over for Connecticut—Crypto Gets the Boot! 🚫💸

Well, folks, it looks like the Nutmeg State isn’t buying into the digital dream of crypto riches anytime soon. The good people of Connecticut have decided that when it comes to digital assets, they’re not playing the game. In a move that has shocked no one, the state passed House Bill 7082, officially barring itself and all its local governments from dabbling in the world of virtual currencies. And just in case you missed it: yes, that includes both investing and accepting them as payment. I mean, who needs Bitcoin when you’ve got good old-fashioned paper money, right?

The bill is set to take effect on October 1, 2025, so mark your calendars—if you’re a fan of keeping things as they’ve always been. Here’s the official spiel: “(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.” Yeah, you read that right. No crypto party in Connecticut.

Oh, and just for good measure, Connecticut is putting the kibosh on any hopes of creating a crypto reserve—a strategy that was once given the green light by none other than President Donald Trump. It’s like they’re saying, “No, thanks, we’ll stick to our own method of securing funds, which doesn’t involve any risk of virtual crashes. The government can barely balance a budget, let alone balance a Bitcoin ledger.”

While the idea of a Bitcoin reserve has become a bit of a trend (31 bills and counting), Connecticut isn’t the only state saying ‘not today’ to the crypto craze. Montana, Wyoming, South Dakota, North Dakota, Oklahoma, Arizona, Utah, Florida, and Pennsylvania have all made similar moves. Apparently, these states have learned a thing or two from the volatile rollercoaster that is cryptocurrency.

But hey, at least the bill had bipartisan support. The State Congress voted on it May 30th, with 148 votes in favor and zero votes against it from the House of Representatives. As for the Senate, they were equally thrilled, with 36 votes in favor and zero against. It’s practically unanimous—Connecticut wants nothing to do with crypto. Good luck, rest of the world. Enjoy your Bitcoin while it lasts. 👋

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2025-06-12 01:01