A bill to prohibit governmental entities from restricting the use of convertible virtual currency by a person; to prohibit the imposition of certain taxes and tax reporting requirements; and to provide for the powers and duties of certain governmental officers and entities.
House Bill No. 5132 prohibits Michigan governmental entities from restricting the use of convertible virtual currency, imposes limits on taxation and reporting for small transactions, and provides civil remedies for violations, thereby enhancing protections for cryptocurrency users.
Co-sponsored by Reps.
Referred to the Committee on Finance
