Bill > HB06990

This bill establishes a comprehensive legal framework for the seizure and forfeiture of virtual currency and virtual currency wallets in Connecticut, specifically in connection with criminal activities. The legislation defines virtual currency and virtual currency wallets using existing statutory definitions and allows law enforcement to seize these digital assets if they are used in or derived from certain criminal offenses, such as violations related to theft, fraud, controlled substances, and other specific criminal acts. The bill outlines a detailed legal process for forfeiture, which includes a civil proceeding in equity where the state must prove its case by clear and convincing evidence. Importantly, the bill includes protections for property owners who did not know about or consent to criminal use of their assets and ensures that property used to pay legitimate attorney's fees cannot be forfeited. When virtual currency or assets are seized, the proceeds will be used to compensate victims of the underlying criminal activity. The law is set to take effect on July 1, 2026, and updates several existing statutes to explicitly include virtual currency within the scope of property that can be subject to forfeiture, reflecting the evolving landscape of digital financial technologies and their potential use in criminal activities.

Business and Industry, Justice

Banking Committee (Joint)

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB06990&which_year=2025