The Connecticut Congress has approved a law yesterday that prohibits the state government from investing, accepting or maintaining cryptoactives such as Bitcoin (BTC). In addition, the legislation also imposes changes in the regulation on the industry behind these assets.
The project, which appears under the code HB7082, It was unanimously approved in both cameras of the state legislatureand hopes to be signed. Its entry into force is scheduled for next October.
The initiative is officially titled An act concerning the regulation of virtual currency and state invests (Law on the regulation of virtual currencies and state investments).
In addition to the prohibition of a Bitcoin reserve, a key aspect of the text It is the new classification of fund transfer services suppliers operating with cryptocurrencies, including those manage automatic bitcoin ATMs or “virtual currencies kiosks.”
These operators must register their customers and differentiate between new and recurring usersbased on the number of transactions made and the time elapsed since registration.
The initiative also establishes the conditions under which a person or entity can be considered as someone who has “control” on a company dedicated to the transfer of funds related to cryptoactive, as well as the criteria to be recognized as a “passive investor” within it. This approach seeks to clearly identify who exercises decision power within companies that manage third party funds through digital currencies.
Among the first conditions, it is worth having at least 25% of the actions with the right to vote, have the ability to designate most managers or exert a decisive influence on the management and policies of the firm. On the other hand, to be recognized as a “passive investor,” a person must demonstrate that he does not participate in the administration or decision making of the entity.
While Connecticut adopts a restrictive posture Towards cryptocurrencies, other regions of the United States advance with open approaches and innovative. Among the most recent cases is Texas, where Congress approved a bill to create a Bitcoin reserve last month.
In addition, as Cryptonoticias reported, New Hampshire approved a law that authorizes the state treasurer to allocate a percentage of public funds to a strategic Bitcoin reserve. This measure seeks to protect state finances against inflation and depreciation of the dollar.
In parallel, Arizona and Oregon have promoted regulations that advance in the integration of cryptocurrencies within their territories.
Arizona gave the green light to the creation of a special fund for non -claimed digital assets, while Oregon updated its commercial code to recognize cryptoactives as a valid guarantee in contracts, facilitating its use in commercial transactions and credit operations.
According to the analysis firm Bitcoin Laws48 projects related to bitcoin reserves have been presented in 26 states. Of these, 31 are still legislative in 16 jurisdictions.
