- Michigan House bills could reshape state crypto investment and ban CBDC advocacy.
- Impacts state pension investments with Bitcoin and Ethereum.
- Results help define U.S. state-level crypto policies further.
Lede: Michigan’s legislative body introduced bills on April 15, 2025, aiming to regulate state crypto investments while prohibiting advocacy for a federal central bank digital currency.
Nut Graph: These legislative moves underscore Michigan’s cautious approach to cryptocurrency, prioritizing Bitcoin and Ethereum within structured state investments while outright banning support for a hypothetical U.S. CBDC.
The Michigan House of Representatives recently introduced several bills
The Michigan House of Representatives recently introduced several bills focused on cryptocurrency regulations and state-level digital currency stances. The main goals include outlining state investment strategies for cryptocurrencies and enforcing a ban on state advocacy for a federal CBDC, marking a bold legislative step.
Key players include Bill Schuette and Bryan Posthumus
Key players include Bill Schuette and Bryan Posthumus, who advocate limited Bitcoin and Ethereum investments while rejecting state engagement with federal CBDC initiatives. These bills propose a maximum of 10% allocation from state funds and prohibit supporting any federal digital currency promotion.
The potential outcomes affecting pension investment strategies
The potential outcomes affecting pension investment strategies and other markets underscore Bitcoin and Ethereum as prioritized assets for state portfolios. U.S. state-level policy frameworks like Michigan’s reflect broader national trends towards cautious cryptocurrency adaptation in public sectors.
“Prohibits state agencies from advocating for or supporting any federal CBDC by issuing memoranda or official endorsements” – Cointelegraph
