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A increasing disagreement is emerging among US states implicit however to attack integer assets, with immoderate jurisdictions warming up to Bitcoin and blockchain innovation, portion others are slamming the brakes.
This has go peculiarly evident successful however Connecticut and Louisiana connection contrasting responses to the evolving crypto system done caller legislative efforts.
No Bitcoin reserve for Connecticut
Connecticut lawmakers introduced a sweeping caller measurement preventing the authorities from holding oregon utilizing integer currencies.
The bill, known arsenic HB7082, received unanimous support from some legislative chambers connected June 10 and volition instrumentality effect by October.
The caller instrumentality bars authorities agencies from investing successful oregon transacting with immoderate virtual currency, including Bitcoin. It besides prohibits utilizing crypto for payments to the authorities and prevents nationalist entities from requiring outgo successful integer assets.
According to the bill:
“Neither the authorities nor immoderate governmental subdivision of the authorities shall (1) judge oregon necessitate outgo successful the signifier of virtual currency for an magnitude owed to the authorities oregon the governmental subdivision, oregon (2) purchase, hold, put successful oregon found a reserve of virtual currency.”
Meanwhile, successful summation to banning crypto successful authorities operations, the Connecticut instrumentality besides imposes caller compliance rules connected wealth transmitters and crypto work providers operating successful the state.
These firms volition present look much stringent licensing requirements and mandatory hazard disclosures. Companies indispensable show disposable warnings to users, cautioning them that crypto transactions are irreversible and losses from scams oregon errors whitethorn not beryllium recoverable.
The authorities includes added user protections, specified arsenic property verification for users nether 18 and mandatory transparency astir transaction terms.
Louisiana explores crypto
While Connecticut moves to restrict crypto, Louisiana is leaning into the aboriginal of integer technologies.
On June 10, the state’s House of Representatives passed a solution establishing a task unit to survey blockchain exertion and artificial intelligence.
The lawmakers acknowledged that astir 20% of Americans present clasp crypto, highlighting the request to recognize its opportunities and risks.
Considering this, the recently formed committee volition research imaginable applications of blockchain and AI and the regulatory frameworks required to negociate their growth.
Louisiana’s task unit volition big nationalist hearings to cod insights from manufacture experts, businesses, and section communities arsenic portion of its mandate.
The radical volition present its findings and argumentation recommendations to the authorities legislature by February 2026.
The station US states divided connected Bitcoin arsenic Connecticut bans reserve portion Louisiana explores blockchain growth appeared archetypal connected CryptoSlate.
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