Michigan Dey Propose Make Dem Ban CBDC and State Investment for Big Crypto
Michigan lawmakers don bring four big cryptocurrency bills wey dey show say the state dey shift their mind about digital assets. The wahala wey dem propose include ban for use and promote US central bank digital currency (CBDC), make Michigan join others wey no too gree with CBDC for the country level. Another bill go allow the state treasurer invest public retirement funds for digital assets, but e get strict limit say make dem only invest for cryptocurrencies wey market cap pass $250 billion like Bitcoin. Dem go do am through exchange-traded products wey regulated companies issue. Dem also wan make the state boost Bitcoin mining by allowing them to use old abandoned oil and gas wells for mining and set tax rules for income wey come from am, especially for environmentally friendly mining. The bills no go allow the state to ban digital asset ownership, deny licenses, or stop blockchain node operations and staking. If dem pass these crypto-friendly laws, e fit make Michigan be leader for big companies wey dey adopt crypto, support local innovation, and affect crypto laws everywhere for the country. Crypto traders suppose watch how Michigan go do, so dem fit know how e go affect market feeling, regional use, and demand from big institutions for big cryptocurrencies.
Bullish
Di kain crypto law weh dem put for ground for Michigan fit get beta impact, mostly for major cryptocurrencies like Bitcoin. Dem talk say no to US CBDC sharp sharp and protect people right to own and use digital assets, so the law dey push crypto business well. When state retirement funds fit put money for some big-market-cap cryptocurrencies inside regulated way, e show say big people dey interested and e fit bring more money enter coins like Bitcoin. The support for eco-friendly mining and clear regulation make Michigan sweet for crypto business. Normally, states wey dey pro-crypto like this dey make market feel good and make more people wan buy, both small time and big time traders. E fit take time make everywhere adopt am but for long run e go make crypto business get more respect, become main thing and make other states follow suit.