Michigan’s Crypto Circus: Four Bills, One Door to Digital Dreams

by

In the quiet, snow-covered heart of Michigan, lawmakers are bustling—probably debating whether Bitcoin should be allowed to shovel snow. Building on past ambitions that may or may not involve unicorns, Michigan steps into the limelight as part of a growing parade of states chasing the elusive specter of digital gold, buoyed by the ever-encouraging federal whispers. Ah, progress! Or perhaps a game of financial leapfrog—who knows? 🤔

Bill HB 4510 Targets Treasury Investments in Crypto

Behold, the mighty HB 4510! A proposed rewrite of the “Public Employee Retirement System Investment Act”—because what could possibly go wrong?—seeks to empower the treasurer to sprinkle digital currencies like fairy dust, provided they boast a market cap above $250 billion. A modest sum—unless you consider that last part a dare. Under this bold plan, any government crypto must wear a fancy outfit: an exchange-traded product (ETP) from a registered investment company, naturally—adding layers of oversight because transparency is just so passé without layers.

And remember February? No? Well, then—another proposal wanted to let Michigan toss up to 10% of its funds into crypto, aiming to diversify and, presumably, watch returns grow as fast as a snowball tumbling downhill. Because what’s life without a little gamble, right? 🎲

Michigan Follows Broader Trend in State-Level Crypto Policy

These ideas don’t float in isolation—oh no! Michigan joins a nationwide conga line of states tiptoeing into crypto legislation. Federal agencies whisper sweet nothings into their ears, or so the hopeful think. If these bills squeak through, Michigan could become the stage for bigger institutional parties—complete with taxation standards, asset protection, and perhaps a few lost socks along the way. Ah, the charming chaos of progress! 🚀

Read More

2025-05-23 03:37