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According to a report by Decrypt on May 22, the Michigan State Legislature has proposed four Crypto Assets-related bills.
The HB 4510 bill will allow the state treasury to invest in Bitcoin through regulated exchange-traded products as part of its pension fund.
The HB 4511 bill aims to prohibit state governments from supporting Central Bank Digital Currency (CBDC);
HB 4512 and HB 4513, the two accompanying bills, focus on Bitcoin mining, allowing private enterprises to conduct Bitcoin mining at abandoned oil wells and providing tax incentives for the related companies.