Connecticut Bans State Crypto Holdings and Enacts Strict Consumer Rules

Bitget Wallet Launches Mastercard-Backed Crypto Card in Europe to Bring Seamless Payments to 150M Merchants

Bitget Wallet has teamed up with Mastercard and web3 payments firm Immersve to launch a new crypto card that allows users to pay directly from their digital wallets at over 150 million Mastercard-accepting merchants. Initially rolling out in the UK and EU, the card will later expand to Latin America, Australia, and New Zealand. Available in digital form via the Bitget Wallet app, the card offers yield on idle balances, transaction rewards, and a one-time bonus for identity verification. The partnership aims to make crypto payments as seamless as traditional transactions, supporting wider crypto adoption. Immersve handles onchain crypto-to-fiat settlement while complying with KYC and AML standards. Similar moves have been made by other crypto firms, such as Coinbase and Gemini.

Connecticut Bans State Crypto Holdings and Payments, Enacts Strict Consumer Protection Rules

Connecticut Governor Ned Lamont has signed House Bill 7082 into law, officially banning the state and its subdivisions from accepting, holding, or investing in cryptocurrencies. The law, introduced in February 2025 and enacted on June 30, aims to protect the state from the risks and volatility associated with digital assets. It also prohibits payments to the state in crypto and forbids the creation of crypto reserves. Additional provisions enhance consumer protection, require businesses to disclose crypto risks, impose strict transaction limits on crypto kiosks, and enforce stronger compliance measures. This move sets Connecticut apart from other states like Texas and Arizona, which continue to embrace crypto reserves, sparking mixed reactions from industry observers.

SEC Weighs Streamlined Crypto ETF Listings as Solana Staking Fund Gets Green Light

The US Securities and Exchange Commission (SEC) is considering a new simplified listing process for crypto ETFs that would automate much of the approval procedure. Under this plan, issuers could skip filing a 19b-4 application and instead submit an S-1 form, with ETFs automatically becoming eligible for listing after 75 days if the SEC raises no objections. While details such as eligible cryptocurrencies are still unclear, this move could ease the launch of altcoin ETFs and potentially fuel an altcoin rally. Meanwhile, the SEC recently approved the country’s first staked crypto ETF, the REX Shares Solana ETF (STAK), as it continues to review other proposals, including ETFs for Litecoin, Dogecoin, Solana, XRP, and Ether with staking features. Final decisions on many of these funds are expected in the second half of 2025.