MI HB4087

Authorizes the state treasurer to invest up to 10% of the general fund and the countercyclical budget and economic stabilization fund (rainy day fund) in cryptocurrency

Requires cryptocurrency held by the state to be stored through a secure custody solution, qualified custodian, or SEC/CFTC-approved exchange-traded product

Permits the state treasurer to loan cryptocurrency to generate additional returns, provided it does not increase financial risk to the state

Mandates that any taxes or fees paid to the state in cryptocurrency be transferred to the general fund, with reimbursement to other designated funds in traditional currency

Establishes detailed security requirements for custody solutions, including geographically diversified data centers, multi-party governance, encrypted access, and regular security audits