Connecticut Governor Ned Lamont signed House Bill 7082 on June 30, officially passing legislation sponsored by a democratic bench, which bans state investments in cryptocurrency and the establishment of a state crypto reserve. The bill represents one of the few states opposing cryptocurrency against the broader backdrop of U.S. states racing to legitimize cryptocurrency through various pro-crypto bills.
As per the Legiscan register, House Bill 7082 was sponsored by the U.S. Senate Banking Committee with the following government officials representing the bill: Representative Kenneth Gucker, Senator Patricia Miller, Senator Matthew Lesser, and Representative Jason Doucette.
The key provision in House Bill 7082 reads “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.”
Multiple votes took place in the House and Senate in May. On May 14, the House was in favour of the bill with a vote of 146-0. The bill was again considered in both the House and the Senate and was approved by both state assemblies with a vote of 148-0 in the House and a vote of 36-0 in the Senate.
So far, the only U.S. states to pass crypto-friendly reserve bills are Arizona, New Hampshire, and Texas.