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Bad news has arrived this time for Bitcoin (BTC) from the USA! One state has imposed sweeping bans on Bitcoin and Cryptocurrencies!
As positive news for Bitcoin and cryptocurrencies comes in succession from the U.S. states, news of a ban has come from one state.
Accordingly, a bill that imposes a ban on cryptocurrencies has been enacted in the U.S. state of Connecticut.
Connecticut Governor Ned Lamont has officially signed and enacted the HB 7082 bill that prohibits the state from accepting, holding, or investing in cryptocurrencies such as Bitcoin.
HB 7082 prohibits the state from accepting any cryptocurrency, investing in them, or holding them.
This new law represents an important step in the state's approach to digital currencies and effectively bans Bitcoin reserves.
The statement in HB 7082 reads: "Neither the state nor any political subdivision of the state may accept or require payment in the form of cryptocurrency, or purchase, hold, invest in, or create a reserve of cryptocurrency."
While some industry experts argue that the bill is very important for measures that can be taken against the risks of cryptocurrencies, others express that it hinders innovation in the state and country.
Connecticut's move sets it apart from other U.S. states like Texas, Arizona, and New Hampshire and highlights the state-level division in crypto policy.
In May, New Hampshire became the first state to pass a law allowing the use of digital assets at the state treasury level, legalizing the "Strategic Bitcoin Reserve" (SBR) model.
Outside of New Hampshire, Texas and Arizona have also taken significant steps regarding Bitcoin and digital asset reserves.
*This is not investment advice.
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