CT SB00262

Permits persons selling virtual currency in Connecticut to accept credit cards and debit cards for virtual currency purchases, effective October 1, 2023.

Requires money transmission licensees holding virtual currency on behalf of others to maintain virtual currency reserves equal in type and amount to customer obligations.

Designates permissible investments and virtual currency held by licensees as trust assets for claimants, exempt from creditor attachment and judgment creditor claims in bankruptcy.

Maintains existing requirements for licensees to hold permissible investments equal to outstanding money transmissions, with receivables from authorized delegates capped at 30% and receivables from any one person capped at 10%.