Michigan MPs have introduced four crypto-related bills covering Crypto mining, Central Bank Digital Currency (CBDCs) and Crypto in state retirement funds.
Republican State Representative Bill Shite introduced House Bill 4510 On 21 May, which will amend Michigan’s public employee retirement system investment act, which will currently allow the state’s treasurer, Rachel Urbank, to invest in cryptocurrency, which has an average of a market cap above $ 250 million in the last calendar year.
Bitcoin (BTC) And ether (ET) It is the only cryptocurrency that currently fulfills that limit. The bill states that any cryptocurrency should be held as one Exchanging business products A registered investment was released by the company.
A similar bill was introduced in February, in which the treasurer of the state was allowed. Allocate up to 10% Michigan’s budget stabilization fund in Crypto.
Republican Representative Brian Pothumus led the introduction of the second bilateral crypto bill on 21 May, HB 4511Which will prevent Michigan from banning crypto or Implementation of licensing requirements On crypto holders. This will also prevent state officials from advocating or supporting the proposed CBDC from the federal government.
The bill supports or supports the CBDC advocating or supporting the CBDC to issue a memorandum or official statement, supporting the CBDC proposal related to its testing, adoption or implementation.
Michigan to consider two crypto mining bills
Modified american plan 4512The third crypto bill introduced by a bilateral group led by Democratic Representative Mike McFall will create a bitcoin mining program, allowing operators to release oil and gas sites.
A observer will be assigned to determine how much oil or gas can be expected to produce from the site, which was the last operator of the site and how long it has been left unused.
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Those wishing to participate in the program will need to present their ability to work as one will need to present their organizational structure underlining their organizational structure. Bitcoin mining unit And provide estimates of Breakeven value for a profitable enterprise.
Fourth Bill, HB 4513 -The amendment will also amend the Income Tax laws of Michigan to incorporate income from the Bitcoin mining program filed by a bipartisan group led by a McFall.
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