A Bitcoin account has been presented to the Senate of the state of Minnesota that proposes to allow investments in Bitcoin and promotes the use of cryptocurrency in certain areas.
In March 18 rackSenator Jeremy Miller, who introduced the bill, said that the Minnesota Bitcoin Act (SF2661) wants to modernize the financial landscape of the state and position Minnesota as a leader in digital assets.
Under SF 26661Could the Minnesota State Board of Investment assign to Bitcoin and other cryptocurrencies to Bitcoin and other cryptocurrencies, so that they are treated in the same way as traditional investments such as shares and bonds.
Furthermore, state employees have the option to include Bitcoin and other cryptocurrencies in their pension plans.
The legislation would also enable residents to pay state taxes and costs with Bitcoin, in the footsteps of states such as Colorado and Utah.
In addition, the account incentives for the income of cryptocurrency includes, so that certain profits from Bitcoin and other cryptocurrencies can be deducted from taxable income.
“I believe that global digital currencies are here to stay, and it is inevitable that they are becoming more and more mainstream,” said Miller.
According to him, cryptocurrencies Minnesota would benefit by offering “new financial opportunities” and giving the state a “strategic position to take advantage of this digital revolution.
“Crypto is a versatile digital active that can be used in several ways, including as investments, worldwide currency or a hedge against inflation,” he added.
Minnesota follows more than a dozen other American states that enables cryptocurrency investments. Some states such as Arizona and Texas have introduced several bills.
On March 11, the legislators of the state of Texas House Bill 4258 presented, with which the main accountant and the financial watchdog of Texas can invest up to $ 250 million of the balance of the Economic Stabilization Fund of the state in Bitcoin or other types of crypto -activa.
The next day, Senator Cynthia Lummis presented an updated version of its Strategic Bitcoin Reserve Act in July, so that the government can have more than 1 million bitcoins.
