When they go against the recent trend of state governments in the United States that pursue cryptocurrency investments, the General Assembly of Connecticut has demolished a prohibition against that state of New England that follows its example, even when others pursue reserves of digital assets in their fiscal strategies.
According to unanimous decisions both in his chamber and in the Senate, Connecticut approved a bill this week that blocks any part of the state government of the ability to “buy, maintain, invest or establish a virtual currency reserve”, and also prohibits accepting cryptographic payments. This goes against efforts in states such as New Hampshire and Texas, which are moving towards the establishment of reserves that echo the intention of the administration of President Donald Trump at the federal level.
Legislators in Connecticut, who are located in the middle of the pack between state economies, also hardened the rules for cryptographic companies that work under the state money transmitter license.
After Trump issued an order to his administration in March to establish a Bitcoin reserve
A long list of states jumped towards similar actions, although many of them were hindered by the opposition or the legislative windows that expired. New Hampshire was the first to cross the finish line. Texas has a similar bill pending a signature by Governor Greg Abbott, and Arizona also approved a more modest approach to set aside digital assets not claimed in a reserve.
“As the legislative sessions end throughout the country, we are proud of the incredible impulse behind Pro-Bitcoin and Digital Assets legislation,” said Dennis Porter, founder of the Satoshi Action Fund who has advocated state legislators to establish reservations. “Unfortunately, Connecticut has chosen to reject this opportunity, for now. But we continue to be optimistic. As Bitcoin adopt more and we see the first -hand benefits, we are sure that Connecticut will do the same.”
Porter said North Carolina and Ohio are still the possibility of reservations this year.
The federal government has not yet transferred active to a reservation. The relevant agencies, led by the Department of Treasury, have been trying to account for all digital assets held in several corners of the public sector. Once completed, Trump had directed all existing cryptocurrencies reserved as a long -term investment, but that taxpayers are not spent money to acquire anything more than the government has seized civil and criminal matters. Bo Hins, one of Trump’s main cryptographic advisors, said in Toronto consensus that there are many ideas on the table to acquire more bitcoin neutrally in the budget.
In other state cryptographic legislative matters, California legislators have been working on legislation that could allow digital asset payments in a state pilot program. The bill was approved unanimously at home and was sent to the Senate last week.
Read more: New Hampshire becomes the first state to approve the encryption reserve law
