In a significant move, Michigan lawmakers have introduced four bipartisan bills on May 21, 2025, aimed at positioning the state as a leader in cryptocurrency and blockchain innovation. The proposed legislation seeks to:

Allow Public Pension Funds to Invest in Cryptocurrencies#ETHMarketWatch

The bills would permit public retirement funds to invest in regulated exchange-traded products tied to Bitcoin and Ethereum, while limiting direct crypto custody. This move could potentially enable public pension investments in leading cryptocurrencies and steer new investments into the state.

Regulate Crypto-Related Industries

The legislation would establish a framework for regulating crypto-related industries in Michigan, providing clarity and stability for businesses and investors. This could lead to increased adoption and innovation in the state's crypto sector.

Ban State Support for Central Bank Digital #ETHETFsApproved Currencies (CBDCs)

The proposed bills would also ban state support for CBDCs, reflecting concerns about the potential impact of government-backed digital currencies on individual freedom and financial privacy.

Establish a Tax-Advantaged Bitcoin Mining Program

Furthermore, the legislation would establish a tax-advantaged bitcoin mining program, aimed at attracting businesses and investments to the state. This could lead to economic growth and job creation in Michigan.#ETH🔥🔥🔥🔥🔥🔥

Potential Impact

If passed, these bills could have a significant impact on Michigan's crypto industry, attracting institutional interest and investments in Bitcoin and Ethereum. The #TrumpTariffs $ETH

proposed legislation aligns with historical precedents, setting the stage for cautious optimism among crypto proponents.