A very positive development has occurred for Bitcoin (BTC) and Cryptocurrencies in one of the largest states in the USA! "Four new laws are on the way!"

While the reserve studies of Bitcoin (BTC) and cryptocurrency continue in the US and its states, a new move has come from the state of Michigan.

Accordingly, Michigan legislators presented four bills related to cryptocurrencies.

According to a report by Decrypt, Michigan lawmakers have introduced four new bills related to Bitcoin and cryptocurrencies. The new bills in Michigan will allow Bitcoin retirement investments, prohibit state support for CBDCs, and offer tax breaks for cryptocurrency mining in oil fields.

House Bill 4510 aims to allow public pension funds to invest in Bitcoin through regulated ETF products. According to the bill, it would allow Bitcoin to invest in Bitcoin through ETFs, provided that it has an average market capitalization of at least $250 billion over the past year.

Bill 4511 seeks to prohibit government agencies from supporting or promoting U.S. central bank digital currency (CBDC). This bill seeks to curb government support for the U.S. central bank CBDC, prohibiting any licensing, taxation, or official advocacy of CBDCs by government agencies.

The bills numbered 4512 and 4513 focus on promoting BTC mining in abandoned oil wells and offering tax incentives to companies participating in such operations for environmental improvement.

As a reminder, in the past weeks, the state of New Hampshire in the United States made a significant move by approving a bill that allows cryptocurrency investments.