Michigan has become the latest US state to operate digital asset rules, with four new legislative proposals landing in the state’s Senate to promote BTC mining and ban the threatening Digital dollars.
With House Bill 4510, Great Lake’s State tries to pave the way for the treasurer to invest in digital assets. Introduced by Bill Schuette, the Republican State Representative for the 95th district, changes the new legislative proposal for the state’s investment system to enable investments in digital assets. However, it limits investments to assets that, on average, have a market value of at least $ 250 billion during the last calendar year.
The bill also describes that the state can only maintain digital assets such as stock exchange traded products issued by registered companies. This provision comes at a time when Spot ETFs have exploded in the United States and now has over $ 50 billion in assets.
Michigan’s Bureau of Investment, which the Treasury monitors, contained $ 165 billion at the end of 2024, most of which come from the public pension systems.
Michigan joins dozens of states competing to conduct digital asset reserves in response to a Similar push at federal level by President Donald Trump. In February, two state senators introduced one invoice allows Michigan State Government to set up a BTC reserve. The limited investment to 10% of assets, which would be about $ 17 billion of the latest figures.
Michigan prohibits the digital dollar
In the other proposed bill, House Bill 4511the state tries to ban the digital dollar and again adapt to Trump’s position Against the proposed superb digital currency.
The bill “prohibits advocate or support through certain measures from certain government agencies and units in a central bank digital currency of the US government.”
Introduced by Republican rep. Bryan Posthumus, the bill reflects dozens of others over the United States who have tried to stop someone Future digital dollars at the state level. The earliest opposition came from Florida, where Gov Ron Desantis led Anti-CBDC campaigns years before Trump’s election.
While several states have advanced bills resisting the digital dollar, Central Bank digital currency (CBDC) is unlikely to see the light of day during the Trump presidency. After resuming the office earlier this year, Trump signed an executive order that banned the Fed from launching a CBDC, which he claimed “threatens the stability of the financial system.”
In addition to CBDC, the same bill also prohibits Michigan from prohibiting digital assets or denying licenses to holders. The state may also not prohibit the operation of blockchain nodes or participation in efforts.
The other two bills, House Bill 4512 and House Bill 4513Focus on block reward break. The first will allow resuscitation of abandoned oil and gas wells to mine BTC, and the second will expand the Tax Act to meet income from such mining operations. The miners would shoulder the cost of well recovery, with the state’s supervisor for wells who have jurisdiction over the sector.
Block reward mining bills increase in the middle of an increase Anti-mine campaigns over the United States And beyond of local communities. In dozens of ongoing moods, these communities have accused miners of noise pollution, as they say is to drive them away from their homes.
Russia shoots miners to north in the middle of power
Meanwhile in RussiaThe Ministry of Energy plans to operate BTC miners to the northern regions when it navigates in power in the denser populated eastern and southern regions.
In an interview with the state news agency Tass, Deputy Minister Yevgeny Grabchak revealed that the government intends to stimulate miners to move to the north. Russia’s north is the least populated region, with severe weather – especially its severe winters – mostly to blame. However, the region also has the most common natural resources, including oil and gas.
“(The Nordic countries) is where we can think of something with miners, put them there and consider the possibility of a network custom. But this is not an advantage as such, but another principle for customs formation,” the minister said.
In particular, the Ministry intends to move the miners to power network centers whose capacity was previously used to mine oil.
Reuse of unused or excess electricity to mine digital assets becomes commonly globally. USA, PakistanJapan and Germany is among the countries that have announced new initiatives to exploit the surplus ability to break BTC.
Look: Find ways to use CBDC outside digital currencies
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