Michigan lawmakers file 4 crypto bills on retiree funds, CBDCs, mining

Quick Summary:

Source: Bitcoin LawsMichigan to consider two crypto mining billsHB 4512, the third crypto bill introduced by a bipartisan group led by Democratic Representative Mike McFall, would create a Bitcoin mining program allowing operators to set up at abandoned oil and gas sites. A supervisor would be assigned to determine how much oil or gas could reasonably be expected to be produced from the site, who the last operator of the site was and how long it has been left unused.

Republican state Representative Bill Schuette introduced House Bill 4510 on May 21, which would amend Michigan’s Public Employee Retirement System Investment Act to allow the state treasurer, currently Rachael Eubanks, to invest in cryptocurrencies that have averaged a market cap above $250 million over the last calendar year.

Republican Representative Bryan Posthumus led the introduction of the second bipartisan crypto bill on May 21, HB 4511, which would prohibit Michigan from banning crypto or imposing licensing requirements on crypto holders.

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Article Details

Author / Journalist: Cointelegraph by Brayden Lindrea

Category: Crypto

Markets: United States

Topics: Crypto State Introduced Representative Michigan Michigan’s Mining Bipartisan Bitcoin Cryptocurrencies Bill

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-23 @ 02:14:30 (16 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 389 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © Coin Telegraph

News ID: 28919263

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