Michigan lawmakers have introduced four significant crypto-related bills focusing on various aspects of cryptocurrency. One of the bills, proposed by Republican Representative Bill Schuette, aims to amend the Public Employee Retirement System Investment Act. This amendment would permit the state treasurer to invest retirement funds in cryptocurrencies with an average market cap exceeding $250 million, currently limiting it to Bitcoin and Ether. Another bill, led by Representative Bryan Posthumus, seeks to prevent Michigan from banning cryptocurrencies and stops state officials from endorsing federal central bank digital currencies (CBDCs). Additionally, a bipartisan group, headed by Democratic Representative Mike McFall, has introduced a bill to establish a Bitcoin mining program at abandoned oil and gas sites, which would allow evaluators to determine productive potential. The final bill also proposed by McFall’s group, would amend income tax laws to include earnings from the Bitcoin mining program.

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