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Michigan is taking major steps toward embracing cryptocurrency with four new bills introduced by lawmakers aimed at supporting digital assets and blockchain innovation. Representative Bill Schuette filed House Bill 4510 allowing the state to invest in crypto assets like Bitcoin and Ether through regulated exchange-traded products. This move opens the door for crypto to become part of Michigan’s public retirement portfolio.
Another bill HB 4511 led by Representative Bryan Posthumus would ban state authorities from restricting crypto use or supporting a central bank digital currency. It ensures residents can use digital assets freely without needing special licenses and blocks state-level CBDC endorsement.
Lawmakers are also targeting crypto mining. HB 4512 would launch a Bitcoin mining program at abandoned oil and gas sites requiring clear legal and financial documentation from interested miners. A related bill HB 4513 updates state tax law to include income earned from these mining efforts. This four-bill package signals Michigan’s strong support for crypto growth and innovation.
