The legislators in Minnesota to consider the “Bitcoin Law” draft law on investment, but not a reserve
Minnesota is the latest American state that is considering legislation related to encrypted currency. However, the Minnesota Bitcoin law is somewhat deceptive, as the bill refers to “Bitcoin and other cryptocurrencies” all the time.
The bill, while it was announced on March 14, is Dated March 17. It does not mention any kind of reserve.
Minnesota invoice is simple but comprehensive
The proposals are somewhat simple. The draft law adds to the list of investment options available to the state’s investment board. The encryption adds to the list of forms of payment that the state will accept. In addition, the draft law allows the launch of the cryptocurrency received from the total income, the federal modified, and excludes the gains of the encrypted currency from some tax accounts.
It will be presented to the Senate by Republican Jeremy Miller. After that, the draft law will be referred to the state committee and the local government of that body. The changes under the law will become effective on December 31 or January 1, 2026.
Minnesota reviewed her legislation to integrate updates of the unified commercial law, but she has little supervision of the cryptocurrency after that. The Ministry of Commerce requires that the exchange of cryptocurrencies be registered as money senders, which is a common practice among countries. Minnesota also has law Protection of consumers who use cryptocurrencies (ATMs), which was enact in 2024.
Minnesota lawmakers are divided into encryption at the federal level
Although the state is hardly a coding center, Minnesota is the home of the supporter of encrypted currencies Tom Amir, who has served in the US House of Representatives since 2014. Emir is the vice -chairman of the House of Representatives Financial Services Committee for digital assets, financial technology and artificial intelligence.
EMMER re -submitted the CBDC status law, with the aim of preventing the United States from issuing a digital currency to the Central Bank, on March 6. It has been paying the bill since 2022. A different version of it passed at home in 2024.
US President Donald Trump has signed an executive matter prohibiting, issuing or promoting CBDC agencies on January 23.
The seven Emmer colleagues are divided into the 4-3 home in favor of encryption via party lines, according to Stand with Crypto. Senate members are strongly against it.
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