MI HB6258

Amends Michigan Penal Code Section 157m to add definitions for "cryptocurrency" and "distributed ledger technology" to the credit crimes chapter.

Defines "cryptocurrency" as digital currency using encryption techniques to regulate currency generation and verify fund transfers, operating independently of a central bank.

Defines "distributed ledger technology" as distributed ledger protocols including blockchain that use shared, decentralized, replicated ledgers for public or private use, potentially including electronic currencies or tokens as exchange media.

Expands the definition of "financial transaction device" to explicitly include access methods using cryptocurrency or distributed ledger technology for obtaining money, credit, goods, services, or accessing deposit accounts.

Takes effect 90 days after enactment; also reorganizes and clarifies statutory references throughout the definitions section by removing redundant language.