Minnesota State Senator Jeremy Miller has introduced bill SF2661 to allow the use of Bitcoin and other cryptocurrencies for state investments, retirement plans, and tax payments.
Introduction to the Bill
On March 18, Minnesota Senator Jeremy Miller introduced bill SF2661, known as the 'Minnesota Bitcoin Act', aiming to expand financial options, modernize payments, and create new opportunities for residents.
Plans and Prospects
Miller believes the bill will help promote prosperity for Minnesotans by letting the Minnesota State Board of Investment invest in cryptocurrencies. He also suggested allowing state employees to add cryptocurrencies to retirement plans and residents to pay taxes and fees with Bitcoin.
Context and Development
In the United States, more states are introducing Bitcoin reserve bills, as evidenced by Senator Cynthia Lummis' initiative for creating a strategic Bitcoin reserve proposed in July 2022.
The new bill in Minnesota indicates the growing interest of states in adopting cryptocurrencies within economy and financial policy. If supported, Minnesota could become one of the pioneering states in implementing such innovations.
