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MI HR0119
Resolution
Status
Passed
10/13/2021
Primary Sponsor
Brad Paquette
Click for details
AI Summary
- Declares October 2021 as Cryptocurrency Education Month in Michigan
- Recognizes Bitcoin as the first cryptocurrency established in 2009, built on four technologies: peer-to-peer systems, proof of work algorithm, cryptographic security, and blockchain
- Highlights the growing accessibility of cryptocurrency through Bitcoin ATMs, mainstream trading services, and merchant acceptance for purchases
- Notes that cryptocurrency income is taxed as capital gains under federal law and that major companies like PayPal, Tesla, MicroStrategy, and Square have adopted cryptocurrency strategies
- Emphasizes that cryptocurrency education would improve financial literacy and provide Michiganders with knowledge of an additional financial tool
Legislative Description
A resolution to declare October 2021 as Cryptocurrency Education Month in the state of Michigan.
Last Action
Adopted
10/13/2021
Committee Referrals
Financial Services6/2/2021
Full Bill Text
No bill text available