There is a split in America again: some states are actively investing in bitcoin, replenishing their reserves, while others are making unexpected decisions. Instead of participating in the crypto race, the authorities of the state of Connecticut have made a unanimous decision to impose the strictest ban in the country on any financial government transactions using digital assets.

It turns out that while some states are betting on the crypt, others, on the contrary, are trying to distance themselves from it as much as possible. And Connecticut went the furthest in this regard, imposing strict restrictions at the state level.

The new law, number 25-66, is not just a framework, but a full stopcock. Government agencies can no longer contact the crypt at all. They cannot not only create crypto reserves, but also take digital coins for taxes, fines and other payments. And municipalities have lost the right to experiment with blockchain technologies in their financial transactions.

The legislators did not stop there. The new law sets unique conditions for the crypto industry: now all firms engaged in the field of digital assets must post catchy warnings in large print on their resources: "LOSSES DUE TO FRAUDULENT OR ACCIDENTAL TRANSACTIONS ARE IRREPLACEABLE, AND TRANSACTIONS IN VIRTUAL CURRENCY ARE IRREVERSIBLE."

Special attention is paid to the safety of young people — from now on, persons under the age of 18 must undergo a mandatory identity verification procedure in order to gain access to crypto trading.

Experts in the financial sector emphasize that Connecticut has, in fact, created a new legal case. The adopted law has greatly changed the rules of the game in the field of money transfers in the state. All licensed companies are now required to implement serious compliance systems, which may prove to be an impossible task for many young companies.

Curiously, this ban arose at a time when other states, on the contrary, are actively developing new technologies. Economists disagree on what such a decision will lead to. On the one hand, Connecticut has secured the treasury from cryptocurrency instability. On the other hand, there is a risk of staying away from progress in the financial world.

It is still unclear whether Connecticut will become a loner or others will follow its example.