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MI HB4510
Bill
Status
5/21/2025
Primary Sponsor
Bill Schuette
Click for details
AI Summary
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Authorizes the State Treasurer, as investment fiduciary for public employee retirement systems, to invest in cryptocurrency with a market capitalization of at least $250 billion averaged over the previous calendar year
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Requires any digital assets held by the state in these funds to be held as exchange-traded products issued by registered investment companies
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Defines cryptocurrency as digital currency using encryption techniques to regulate unit generation and verify fund transfers, operating independently of a central bank
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Amends the Public Employee Retirement System Investment Act of 1965 by adding a new section 19c
Legislative Description
Retirement: other; investment in cryptocurrency by certain retirement funds; allow. Amends 1965 PA 314 (MCL 38.1132 - 38.1141) by adding sec. 19c.
State agencies (existing): treasury
Last Action
Placed On Third Reading
3/11/2026