Public Act No. 23-82 Summary

• Connecticut Banking Commissioner may adopt regulations governing digital assets, including virtual currencies and stablecoins, by entities and individuals subject to the commissioner's regulation, with consultation on consistency with federal and state regulators.

• "Money transmission" definition expanded to include virtual currency kiosks as a transmission method, effective October 1, 2023.

• Virtual currency kiosk operators must provide clear written disclosures in English before initial transactions, including warnings about irreversible transactions, lack of government insurance, volatility risks, fraud risks, and technological access limitations.

• Kiosk operators must disclose account terms and conditions using at least 24-point sans-serif font, including customer liability, stop-payment rights, account statement rights, and refund policies.

• Daily transaction limit of $2,500 per customer established; customers may cancel and receive full refunds within 72 hours for first-time transactions to wallets or exchanges outside the United States.