Michigan lawmakers have proposed four new bills targeting various aspects of cryptocurrency. These include mining regulations, tax deduction policies, state treasury investments, and access to digital assets.
The effort builds on previous attempts to integrate crypto into state policy. Michigan joins a growing list of states acting under a more supportive federal stance on digital currencies.
Bill HB 4510 Targets Treasury Investments in Crypto
The first bill, HB 4510, seeks to revise the “Public Employee Retirement System Investment Act.” It would allow the state treasurer to invest in digital currencies with market caps above $250 billion.
Under the bill, any crypto held by the state must be in the form of an exchange-traded product (ETP) issued by a registered investment company. This adds a layer of regulatory oversight and transparency.
Earlier in February, a separate proposal suggested allowing up to 10% of Michigan’s general and economic stabilization funds to be invested in crypto. That bill aimed to both diversify holdings and improve returns, according to reporting by The Block.
Michigan Follows Broader Trend in State-Level Crypto Policy
These new proposals align with a nationwide trend. More states are exploring crypto legislation as federal agencies ease restrictions.
If passed, Michigan’s bills could open the door for broader institutional adoption, while setting legal standards for taxation and asset protection in the digital age.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/michigan-lawmakers-push-forward-crypto-regulation-with-four-new-bills/