Michigan Legislators Introduce Four New Cryptocurrency-Related Bills

Decrypt reports that Michigan lawmakers have introduced four crypto-related bills, including HB 4510, which would allow public retirement funds to invest in Bitcoin through regulated exchange-traded products. HB 4511 aims to prevent state support for a U.S. central bank digital currency, prohibiting state agencies from licensing, taxing, or officially promoting CBDCs. Two companion bills, HB 4512 and HB 4513, encourage Bitcoin mining at abandoned oil wells and offer tax incentives to companies that restore environmental sites in exchange for mining rights.