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Minnesota is embracing the future with the introduction of the Minnesota Bitcoin Act. This pioneering legislation adds cryptocurrency to the investment options for the State Board of Investment and approves crypto as a form of state payment. The bill also offers tax incentives by allowing deductions of cryptocurrency from federal adjusted gross income and excluding crypto gains from certain tax calculations.
Authored by Republican Jeremy Miller the bill will proceed to the State and Local Government Committee. If passed changes under the act would be effective starting either December 31 2025 or January 1 2026 showcasing Minnesota’s commitment to becoming a more inclusive financial ecosystem.
The state’s forward-thinking approach is further highlighted by protections for consumers using cryptocurrency kiosks and requirements for crypto exchanges to register as money transmitters. These steps reflect Minnesota’s strategy to integrate cryptocurrency securely and responsibly while fostering an environment conducive to digital innovation.
