Senator's Crypto Conversion Sparks Bitcoin Bill

In Minnesota, Senator Jeremy Miller, once skeptical of Bitcoin, has proposed a "Bitcoin Act." This legislation aims to allow the State Board of Investment to invest in Bitcoin and other cryptocurrencies, comparable to traditional assets. If enacted, it would enable state employees to add crypto to their retirement accounts and permit residents to pay state taxes with Bitcoin. Investment gains would also be exempt from state income taxes. This shift reflects a broader trend, as 23 other U.S. states have introduced similar legislation amidst Bitcoin's impressive performance against traditional markets.