While Bitcoin ($BTC ) and cryptocurrency reserve studies continue in the USA and its states, a new move came from the state of Michigan.
Accordingly, Michigan lawmakers have introduced four bills regarding cryptocurrencies.
Michigan lawmakers have introduced four new bills related to Bitcoin and cryptocurrencies, according to Decrypt. The new bills in Michigan would allow Bitcoin retirement investments, ban state CBDC backing, and offer tax breaks for crypto mining in oil fields.
House Bill 4510 aims to allow public pension funds to invest in Bitcoin through regulated ETF products, provided that the funds have an average market value of at least $250 billion over the past year.
House Bill 4511 seeks to prohibit government agencies from supporting or promoting a U.S. central bank digital currency (CBDC). The bill aims to block government support for a U.S. central bank CBDC and prohibit government agencies from any licensing, taxation, or official advocacy of CBDCs.
Bills 4512 and 4513 focus on encouraging BTC mining in abandoned oil wells and offer tax incentives to companies that engage in such operations for environmental remediation.
As you may recall, in recent weeks, the US state of New Hampshire has signed a first in the US and approved a bill allowing crypto investments.
*This is not investment advice.
