Key Takeaways:
- Michigan lawmakers proposed allowing cryptocurrency investments in public retirement funds, limited to high-market-cap assets like Bitcoin and Ether via exchange-traded products.
- A new bill aims to protect cryptocurrency use from state-level restrictions and bars state support for federal CBDC initiatives.
- Proposed legislation promotes Bitcoin mining at abandoned fossil fuel sites and adjusts tax laws to accommodate mining-related income.
Michigan lawmakers have introduced four cryptocurrency-focused bills addressing public investments, digital currency restrictions, and Bitcoin mining.
House Bill 4510, sponsored by Rep. Bill Schuette, proposes allowing the state treasurer to invest in cryptocurrencies—specifically those with a market cap over $250 million, currently Bitcoin and Ether—via exchange-traded products.
🇺🇸 NEW: Four new Bitcoin bills were introduced today in Michigan today
— Bitcoin Laws (@Bitcoin_Laws) May 21, 2025
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
A similar proposal was made earlier in February concerning the Budget Stabilization Fund.
House Bill 4511, introduced by Rep. Bryan Posthumus with bipartisan support, aims to protect residents’ rights to use crypto by prohibiting state bans or licensing requirements.
It also blocks Michigan officials from supporting federal central bank digital currency (CBDC) initiatives, including public endorsements or policy memos.
The remaining two bills, HB 4512 and HB 4513, focus on expanding Bitcoin mining.
HB 4512 establishes a program enabling mining at abandoned oil and gas sites, requiring feasibility assessments and detailed applications.
HB 4513 proposes tax code amendments to address income generated from the mining initiative.
The legislative package underscores Michigan’s push to support crypto innovation while preserving regulatory independence.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
Check Adam out on: