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Michigan Lawmakers File 4 Crypto Bills on Retiree Funds, CBDCs, Mining
- Michigan lawmakers introduced four bills addressing cryptocurrency on May 21, targeting mining, retiree funds, CBDCs, and taxation within the state.
- This legislative push follows growing state and federal interest in crypto regulation amid the sector's high volatility and risks to investors.
- The bills include allowing state treasury investments in Bitcoin and Ether via exchange-traded products, prohibiting state bans on crypto holdings and CBDC support, creating a Bitcoin mining program on abandoned wells, and exempting related income from state taxes.
- House Bill 4510 sets a $250 billion market capitalization threshold for eligible cryptocurrencies, with BTC and ETH meeting this, and the mining bill requires financial, environmental, and operational reporting from participants.
- These bills aim to foster a secure regulatory framework that protects consumers, supports innovation, and could position Michigan as a blockchain hub influencing other states’ crypto policies.
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14 Articles
Michigan lawmakers file 4 crypto bills on retiree funds, CBDCs, mining - Invest In Crypto News
Michigan lawmakers have introduced four crypto-related bills covering crypto mining, central bank digital currencies (CBDCs) and crypto in state retirement funds. Republican state Representative Bill Schuette introduced House Bill 4510 on May 21, which would amend Michigan’s Public Employee Retirement System Investment Act to allow the state treasurer, currently Rachael Eubanks, to invest in cryptocurrencies that have averaged a market cap above…
Michigan Joins State Crypto Policy Wave With Bills on Mining, CBDCs and Retirement Funds
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Michigan is taking major steps toward embracing cryptocurrency with four new bills introduced by lawmakers aimed at supporting digital assets and blockchain innovation. Representative Bill Schuette filed House Bill 4510 allowing the state to invest in crypto assets like Bitcoin and Ether through regulated exchange-traded products. This move opens the door for crypto to become part of Michigan’s public retirement portfolio. Another bill HB 4511 l…
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Michigan has introduced four Bills, 4510-4513, as a combined effort to define the approach of state to cryptocurrency. Apart from these bills, Michigan is also looking into the creation of a strategic cryptocurrency reserve. Four new cryptocurrency Bills Named 4510, 4511, 4512, and 4513 were introduced in the Michigan legislature, as of May 23. The introduction of the new bill marks the combined effort to define the approach of state to cryptoc…
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