Michigan pushes ahead with strategic crypto reserve bill
Michigan’s crypto reserve bill has advanced to the committee stage, allowing 10% state investment in digital assets.
Michigan has taken the next step for its strategic crypto reserve bill, which moved to a second reading on Thursday.
The Michigan House Bill 4087, which would allow the state to invest in crypto assets under specific conditions, has moved to a second reading and was referred to the Committee on Government Operations.
The legislation amends the Michigan Management and Budget Act to establish guidelines for a strategic crypto reserve, though it does not mention Bitcoin (BTC) specifically.