House Bill 4510

House Bill 4510 allows cryptocurrency to be used in a public employee retirement system investment.

The full bill can be seen here:

The Michigan Bitcoin Trade Council is OPPOSING House Bill 4510.

Why?

The Michigan Bitcoin Trade Council opposes House Bill 4510 because the market capitalization listed in the legislation is too low. The market capitalization is listed at $250 billion. This would potentially allow other cryptocurrencies than Bitcoin to be used in these public employee retirement system investments.

Bitcoin is the ONLY stable cryptocurrency and the only instrument that would be prudent for the state to invest in. This is why we do not support House Bill 4510 and encourage people to reach out to lawmakers to oppose the legislation.

Action Items

House Bill 4510 is in the House Communications and Technology Committee. Please call and email every member of the committee to explain to them the reasons why they should OPPOSE the passage of House Bill 4510.

House Communications and Technology Committee Leadership

Rep. Jaime Greene (Republican) District 65 - Chair
Phone: (517) 373-1775
Email: JaimeGreene@house.mi.gov

Rep. Tom Kunse (Republican) District 100 - Majority Vice Chair

Phone: (517) 373-7317

Email: TomKunse@house.mi.gov

Rep. Helena Scott (Democrat) District 8 - Minority Vice Chair

Phone: (517) 373-3815

Email: helenascott@house.mi.gov

House Communications and Technology Committee Membership

Rep. Pauline Wendzel (Republican) District 39

Phone: (517) 373-1799

Email: PaulineWendzel@house.mi.gov