state_legiscan_drain · MI
State finance: other; office of the Michigan bullion depository and Michcoin act; create. Creates new act.
February 13, 2025
Summary
If enacted, this bill would create the Office of the Michigan Bullion Depository and establish the 'Michcoin' as a state-sponsored digital currency. It would authorize the state to hold physical gold and silver bullion and issue a blockchain-based token. The bill primarily affects state government operations and may impact fintech companies involved in digital assets, but has no direct effect on mortgage lending or consumer financial regulation.
AI-generated summary · Jul 5, 2026. Verify with your compliance counsel before acting.
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Source: https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-4086
Common questions
- What does "State finance: other; office of the Michigan bullion depository and Michcoin act; create. Creates new act." cover?
- If enacted, this bill would create the Office of the Michigan Bullion Depository and establish the 'Michcoin' as a state-sponsored digital currency. It…
- When was it published?
- It was published on February 13, 2025.