Michigan might not be the first place that comes to mind when you think of crypto innovation, but that could be about to change. A group of state lawmakers has introduced four new bills aimed at weaving cryptocurrency into Michigan’s financial and environmental landscape. The proposals touch on everything from retirement savings to mining in abandoned oil fields, and yes, there’s even a line drawn in the sand when it comes to government-controlled digital money. If passed, this Michigan crypto legislation could turn the state into a blueprint for how local governments engage with digital assets.
Letting Public Pensions Buy Bitcoin
One of the most attention-grabbing parts of this legislative package is House Bill 4510. It proposes allowing Michigan’s public retirement systems, the funds that pay teachers, first responders, and other state workers after they retire, to invest in cryptocurrencies.
Michigan lawmakers introduced several bipartisan bills today that seek to position the state as a leader in crypocurrency and blockchain innovation: pic.twitter.com/HhKVZKwaX1
— Sam Robinson (@samueljrob) May 22, 2025
But the bill doesn’t open the floodgates. Only cryptocurrencies with a market cap of at least $250 billion over the past year would be eligible. Right now, that means Bitcoin and Ethereum. Even then, investments would only be allowed through regulated exchange-traded products, not direct crypto buys.
In other words, Michigan isn’t betting the pension fund on Dogecoin. The bill is designed to give pensions some exposure to crypto while keeping risk tightly managed. Lawmakers supporting the measure argue that adding Bitcoin could diversify the state’s portfolio and potentially boost long-term returns, if done carefully.
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No Love for a Digital Dollar
The second bill, House Bill 4511, takes a stand against something that’s been stirring debate on a national level: central bank digital currencies, or CBDCs. These are government-issued digital currencies that some countries are already experimenting with. The U.S. is still in the research phase, but this bill says Michigan doesn’t want any part of it.
Specifically, the bill would stop state agencies from helping to roll out or promote a U.S. digital dollar. It also says that people in Michigan shouldn’t need a special license or pay extra taxes just for using crypto. The message here is pretty clear, Michigan wants to support financial freedom, not more oversight.
Cleaning Up Old Oil Sites with Bitcoin Mining
The other two bills focus on Bitcoin mining, but with a Michigan twist. Through House Bill 4512, lawmakers are proposing that mining operations be encouraged to set up shop at abandoned oil and gas wells across the state. Instead of leaving these sites to slowly decay, the idea is to turn them into power sources for blockchain infrastructure.
Meanwhile, House Bill 4513 proposes tax incentives for companies that participate in Bitcoin mining. If the plan works, it could turn environmental liabilities into economic opportunities, especially in rural or post-industrial areas that have seen better days.
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What This Could Mean
This bundle of crypto bills doesn’t just show interest, it shows ambition. While other states have dipped their toes into the crypto pool, Michigan is trying to dive in with a set of policies that touch investment, regulation, energy use, and personal privacy.
Whether all four bills pass is still up in the air. But if even a couple move forward, Michigan could find itself on the front line of the next big shift in state-level crypto policy.
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Key Takeaways
- Michigan lawmakers have introduced four new crypto-focused bills covering Bitcoin investments, mining incentives, and opposition to CBDCs.
- House Bill 4510 would allow public retirement funds to invest in Bitcoin and Ethereum through regulated exchange-traded products only.
- House Bill 4511 pushes back against a U.S. digital dollar, banning state agencies from supporting CBDC rollout or implementation in Michigan.
- New proposals aim to repurpose abandoned oil and gas wells for Bitcoin mining operations, pairing energy reuse with blockchain development.
- The bill package positions Michigan as a rising crypto-friendly state, exploring investment, infrastructure, and tax policy all in one move.
The post Michigan Crypto Legislation: 4 New Bills Introduced appeared first on 99Bitcoins.
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