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Michigan cryptocurrency legislation aims to lead blockchain finance with four bipartisan crypto bills targeting investment, infrastructure, and environmental reuse.
Crypto Legislation in Michigan Sets the Stage for Economic Reinvention
A bipartisan legislative push in Lansing is aiming to make Michigan a national leader in cryptocurrency infrastructure, investment, and innovation. On May 21, a four-bill package was introduced in the Michigan House that outlines a statewide strategy for digital finance. The legislation covers protections for crypto users, allows state-managed pension investments in major digital currencies, and proposes a novel use of dormant oil and gas infrastructure for Bitcoin mining.
Michigan cryptocurrency legislation of House Bills 4510 through 4513 are backed by both Republican and Democratic lawmakers, signaling rare cross-party support for high-tech financial reforms.
Cryptocurrency Bill of Rights Aims to Lock In Digital Protections
House Bill 4511, sponsored by Rep. Bryan Posthumus (R-Rockford), proposes a Cryptocurrency Bill of Rights, asserting that residents have the right to use, own, and transact with cryptocurrencies without interference from state or local governments.
The bill mandates that cryptocurrency be treated identically to fiat currency in taxation and allows for the operation of blockchain-related infrastructure statewide. “Our entire financial future is going to be based on blockchain technology,” Posthumus said, warning that Michigan risks falling behind if it fails to act now.
State Pensions and Cryptocurrency Investment Oversight Strengthened
House Bill 4510, introduced by Rep. Bill G. Schuette (R-Midland), addresses cryptocurrency investment by the state treasury. The legislation lays out a formal process for managing Michigan’s existing and future investments in digital assets, like Bitcoin. Michigan first dipped into crypto investments in 2024, and this bill aims to ensure greater oversight and accountability.
The bill limits investment to cryptocurrencies with a minimum market capitalization of $250 billion over the previous year, a provision meant to reduce exposure to risky or speculative assets. “This legislation helps make sure Michigan is at the cutting edge of the future of commerce,” said Schuette.
Bitcoin Mining Could Reclaim and Cap Abandoned Gas Wells
Two bills focus on environmental innovation. House Bill 4512, sponsored by Rep. Mike McFall (D-Hazel Park), proposes giving Bitcoin miners access to abandoned oil and gas wells owned by the Department of Environment, Great Lakes, and Energy (EGLE). The idea is to harness escaping methane for energy generation to power mining operations. In exchange, operators must seal the wells afterward, reducing environmental hazards.
House Bill 4513, also from McFall, would exempt the resulting Bitcoin from taxation, incentivizing participation. “By embracing smart regulation and innovation, we can unlock new economic opportunities,” McFall said, adding that the approach aligns economic development with environmental remediation.
Michigan Cryptocurrency Legislation Has Broad Implications for Tech, Jobs, and Infrastructure
If passed, the Michigan cryptocurrency legislation could create a ripple effect across multiple sectors. Beyond digital finance, it addresses environmental stewardship, job creation, and the reuse of idle infrastructure. These bills represent one of the most detailed state-level policy frameworks for cryptocurrency seen in the U.S.
While other states such as Wyoming and Florida have introduced crypto-friendly laws, Michigan’s approach stands out for its integration of economic policy, pension oversight, and environmental goals.
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