Michigan lawmakers are making big moves to welcome cryptocurrency and blockchain innovation. A new set of four bills aims to integrate digital assets into the state’s financial system, protect users’ rights, and encourage mining activity—all while updating existing laws to reflect the growing importance of crypto in the economy.
State Investments in Bitcoin and Ether Could Soon Be a Reality
One of the key bills, House Bill 4510, introduced by Representative Bill Schuette, would allow Michigan to invest in cryptocurrencies like Bitcoin and Ether through regulated exchange-traded products (ETPs). This could make digital assets a part of Michigan’s public retirement system—a bold step that signals confidence in the long-term value of crypto.
The move would diversify the state’s investment portfolio and could set a precedent for other states to follow, especially as crypto continues to gain mainstream acceptance.
Crypto Rights, Mining Programs, and Updated Tax Laws
Representative Bryan Posthumus is behind House Bill 4511, which aims to protect residents’ rights to use cryptocurrency without needing special licenses. It also bans the state from supporting a central bank digital currency (CBDC), making it clear that Michigan stands for financial freedom and decentralized digital assets.
Meanwhile, House Bill 4512 focuses on the mining industry. It proposes launching a Bitcoin mining program at decommissioned oil and gas sites throughout Michigan. This would not only promote innovation but also breathe new life into unused infrastructure, creating jobs and economic opportunities.
To align with these changes, House Bill 4513 would update Michigan’s tax laws to include income earned from cryptocurrency mining. This ensures miners are operating under clear financial guidelines while recognizing mining as a valid and taxable source of income.
Together, these four bills represent a forward-thinking approach to digital finance. By supporting investment, personal freedom, and industry growth, Michigan is positioning itself as a national leader in cryptocurrency policy.
