Minnesota State Senator Jeremy Miller introduced the Minnesota Bitcoin Act on March 18, aiming to integrate Bitcoin into state finances. The bill proposes allowing the Minnesota State Board of Investment to invest state assets in Bitcoin and other cryptocurrencies, mirroring traditional asset investments. State employees could also add cryptocurrencies to their retirement accounts, and residents would have the option to pay state taxes and fees with Bitcoin. Investment gains from Bitcoin would be exempt from state income taxes. This follows similar Bitcoin-buying bills in 23 other US states. Senator Cynthia Lummis also proposed a BITCOIN Act on March 12, potentially allowing the government to hold over 1 million Bitcoin in reserve. Bitcoin's compound annual growth rate from August 2011 to January 2025 was 102.36%, significantly outperforming the S&P 500's 14.83%.
Minnesota Senator Proposes Bitcoin Act, Allowing State Investments and Tax Payments in Crypto
Edited by: Yuliya Shumai
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