Michigan might not be known for crypto advancement, but this may be changing soon as state legislators have put forth four new bills that aim to incorporate cryptocurrency into Michigan’s economy. These bills cover a range of topics from retirement savings to mining in decommissioned oil fields, alongside a stance against government-controlled digital currencies.

Letting Public Pensions Buy Bitcoin

The standout proposal, House Bill 4510, allows public retirement systems in Michigan to invest in cryptocurrencies. This would enable funds that support teachers and state workers in retirement to invest in digital currencies.

Michigan lawmakers introduced several bipartisan bills today that seek to position the state as a leader in cryptocurrency and blockchain innovation: pic.twitter.com/HhKVZKwaX1 — Sam Robinson (@samueljrob) May 22, 2025

However, only cryptocurrencies with a market cap of at least $250 billion will qualify for these investments, limiting options to Bitcoin and Ethereum through regulated products.

No Love for a Digital Dollar

The second bill, House Bill 4511, directly opposes the implementation of central bank digital currencies in Michigan. It prohibits state agencies from aiding in the rollout of a U.S. digital dollar, emphasizing the state’s commitment to financial autonomy.

Cleaning Up Old Oil Sites with Bitcoin Mining

The proposed House Bill 4512 encourages the establishment of Bitcoin mining operations at abandoned oil wells, transforming existing liabilities into potential assets. Concurrently, House Bill 4513 proposes to offer tax incentives to companies engaging in Bitcoin mining activities.

What This Could Mean

These legislative initiatives not only indicate Michigan’s interest in cryptocurrency but also reveal a deeper ambition to lead in digital asset policy. While the final decisions on these bills remain uncertain, their approval could significantly influence the state’s regulatory landscape regarding cryptocurrency.