The post Michigan lawmakers introduce new crypto bills covering state investments, mining, and CBDCs appeared on BitcoinEthereumNews.com.

Four new cryptocurrency-related bills were introduced in the Michigan legislature this week, covering public pension investments in crypto, mining, income tax exemptions, and restrictions on CBDC support. As of May 23, four new proposed legislations, House Bills 4510, 4511, 4512, and 4513, have been introduced in the Michigan legislature, marking a coordinated push to define the state’s approach to cryptocurrency. 🇺🇸 NEW: Four new Bitcoin bills were introduced today in Michigan today 1. Allowing State Retirement fund investment 2. Banning CBDCs, and other rights protections 3 + 4. Allowing Bitcoin mining on abandoned oil & gas wells, & tax deductions for it pic.twitter.com/57pjvDwEiH — Bitcoin Laws (@Bitcoin_Laws) May 21, 2025 House Bill 4510, introduced by Representative Bill Schuette, seeks to amend Michigan’s Public Employee Retirement System Investment Act to allow the state treasurer to invest in cryptocurrencies. The bill restricts eligibility to digital assets with an average market capitalization of at least $250 billion over the past calendar year. Currently, only Bitcoin (BTC) and Ether (ETH) meet this threshold. These investments must be made through exchange-traded products issued by a registered investment company. House Bill 4511, sponsored by Representative Bryan Posthumus, proposes prohibiting the state and its subdivisions from banning the holding of digital assets or imposing licensing, permitting, or discriminatory tax requirements based solely on digital asset usage.  It also bars state agencies from advocating for or supporting any federal CBDC by issuing memoranda or official endorsements. Additionally, the bill protects blockchain participants by preventing restrictions on node operations, asset transfers, and staking, while shielding validators and node operators from civil liability. Meanwhile, House Bill 4512, introduced by a bipartisan group led by Representative Mike McFall, outlines a Bitcoin mining partnership programme targeting abandoned oil and gas wells. Under the proposed programme, participants would receive temporary rights to use…

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Filed under: News - @ May 23, 2025 7:28 pm