The Connecticut House of Representatives has passed a bill that would give the state's top financial regulator new powers to oversee parts of the local digital currency industry.
If signed into law, Substitute House Bill No. 6800 would require a company seeking a money transmission license from the Connecticut Banking Department to specify that it plans to offer digital currency services. State regulators would then be empowered to assess whether or not to reject that applicant’s request based on the potential risks to consumers.
The bill states:
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