The government interest in Bitcoin (BTC) continues to grow in the US, especially since President Donald Trump created a strategic reserve of this asset. States such as New Hampshire, Arizona and Oregon have already approved projects related to the creation of Satoshi Nakamoto, and every week new proposals arise in different jurisdictions.
Following this trend, four new initiatives were presented yesterday in the state of Michigan. These include bills HB4510, HB4511, HB4512 and HB4513.
The first of them proposes to allow the state treasurer to invest public funds in cryptocurrencies, provided that they have had an average market capitalization of at least USD 250 billion During the previous year, a rule that only complies with Bitcoin. In addition, it establishes that the acquired digital assets must be maintained through stock -listed products issued by registered investment companies.
On the other hand, the draft HB4511 seeks to guarantee the right of citizens to possess and use digital currencies. It prohibits the State from already demanding licenses, imposing additional taxes or establishing obstacles to the possession of these assets. In addition, it proposes to prevent state agencies from supporting the development or implementation of a digital currency issued by the Federal Government (CBDC), and promotes the freedom to operate nodes, carry out transactions in cryptoactive networks and participate in activities such as staffing or mining.
HB4512 proposal focuses on the creation of A program that allows private companies to use abandoned oil or gas wells for Bitcoin mining. In return, companies assume the responsibility of sealing the wells and restoring the site once the operations are finished. What is sought is to take advantage of the residual resources of these wells to generate electricity for mining, thus promoting environmental recovery without depending exclusively on public funds.
Finally, the HB4513 initiative It proposes to modify the Income Tax Law of 1967 of Michiganto facilitate that the taxpayers registered in the State Mining Program of Bitcoin, established by the HB4512 project, can deduce from their gross income adjusted the profits generated by this activity. It should be noted that deduction applies to both natural persons and corporate entities, provided that mining is carried out in abandoned wells. The entry into force of this proposal is subject to the prior approval of HB4512.
These proposals are in the early stages of the legislative processspecifically in review by the Communications and Technology Committee of the Misthagan House of Representatives. At the moment, they have not advanced beyond this initial phase, such as public hearings, voting in committee or approval in the Chamber, which suggests that they are still under preliminary evaluation without a defined calendar for its progress.
Although only the HB4510 bill allows the state of Mischigan to invest public funds in Bitcoin, The simultaneous presentation of the four initiatives represents a significant step in adoption of the sector. This occurs at a time when the institutional interest per BTC is booming globally and its price continues up.
At the time of writing this note, the leading cryptoactive has reached a new historical maximum near USD 112,000, as reported by cryptootics, something that reaffirms the bullish conviction of its enthusiasts.
Texas advances with its BTC reservation following Arizona and New Hampshire
Simultaneously to advances in Mistchigan, it is important to highlight that Texas is about to become the third American state to formalize a strategic Bitcoin reserve.
The SB 21 bill, which proposes the creation in Texas of a state cryptocurrency treasury – with BTC as the only viable asset, due to its high market capitalization requirements – yesterday exceeded its third reading in the House of Representatives and only expects the signature of Governor Greg Abbott. This initiative seeks to strengthen the financial stability of the State through the acquisition and safe custody of Bitcoin, professionally managed and backed by an advisory committee.
New Hampshire, meanwhile, has already taken important steps in this direction. The latter approved Law HB 302, which allows the treasure to invest up to 5% of its public funds in Bitcoin and precious metals, provided they comply with high capitalization standards.
On the other hand, in Arizona, although the governor vetoed proposals that would have authorized the direct investment in Bitcoin, the HB 2749 Law allowed the creation of a reservation financed with abandoned state funds, reflecting a partial commitment to the institutional adoption of cryptocurrencies.
According to the Bitcoin Laws researchers, They have appeared 147 projects related to Bitcoin in 40 US states. Of these, 47 initiatives address the creation of strategic reserves in 26 jurisdictions, of which 37 remain active in 20 states.
