gposas
Minnesota State Senator Jeremy Miller has introduced the Minnesota Bitcoin Act (SF2661), aiming to position the state at the forefront of cryptocurrency adoption.
Key Provisions of the Minnesota Bitcoin Act:
- State Investments: The bill proposes allowing the State Board of Investment to incorporate Bitcoin and other cryptocurrencies into Minnesota’s investment portfolio.
- Payment Acceptance: It seeks to authorize state agencies to accept cryptocurrencies, including Bitcoin, for payments such as taxes and fees.
- Tax Incentives: The legislation offers tax incentives by allowing deductions of cryptocurrency from federal adjusted gross income and excluding crypto gains from certain tax calculations.
Introduced on March 17, 2025, the bill has been referred to the Senate’s State and Local Government Committee for further deliberation.
Senator Miller’s initiative reflects a growing trend among U.S. states exploring the integration of digital assets into their financial systems. If enacted, Minnesota would join other states in embracing cryptocurrency, potentially influencing broader adoption and regulatory approaches nationwide.
