Michigan lawmakers introduce four new Crypto Assets-related bills

GateUser-6433627c · 2025-05-22T09:53:34+00:00

Michigan lawmakers have introduced four new cryptocurrency-related bills, including a bill that would allow public pension funds to invest in Bitcoin, a bill that would prohibit state support for the U.S. central bank's digital currency, and a bill that would encourage Bitcoin mining in abandoned oil wells and provide tax breaks.

GateUser-6433627c

2025-05-22 09:53:34

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[Michigan lawmakers propose four new crypto-related bills] According to decrypt, Michigan lawmakers have introduced four bills related to encryption, including HB 4510, which will allow public retirement funds to invest in Bitcoin through regulated exchange-traded products. HB 4511 aims to block state support for the US central bank’s digital currency, prohibiting any licensing, taxation or official publicity of CBDCs by state agencies. The two supporting bills, HB 4512 and HB 4513, encourage Bitcoin mining at abandoned oil wells and provide tax incentives for companies that restore environmental sites in exchange for mining rights.

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