In the American state of Michigan, two congressmen proposed creating a local strategic reserve of cryptocurrencies. The total number of US states, in which they put forward a similar initiative, has already reached twenty.

Members of the House of Representatives of Michigan Bryan Posthumus and Ron Robinson, belonging to the Republican Party, proposed amendments to the state of the state management state, allowing the state reserve of cryptocurrencies. According to amendments, the state treasury will be able to invest in cryptocurrency up to 10% of the funds from the budget or special fund to stabilize the economic situation. The bill does not specify which cryptocurrencies can replenish the reserve, and what restrictions can be for this.

The bill allows you to provide cryptocurrencies on credit, if this does not threaten the state with financial risks, but on the contrary, it is able to bring profit to the local budget. The authorities will be able to store purchased cryptocurrencies using safe caste -dedicated services or through exchange products of registered investment companies, the authors of the amendments say. The congressman Brian Zastumus also put forward the idea of ​​creating a stablecoin Michcoin, which will be tied to the gold and silver reserves of Michigan.

“Michigan can and should join Texas and other states leading in the field of cryptocurrency legislation. We need to sign our bill on the creation of a strategic crypto -reserve in Michigan, ”wrote the postumus on the social network X.

Earlier, the Texas authorities proposed creating a state reserve of cryptocurrencies, where taxes, various fees and donations in bitcoins would receive. It is understood that these funds will be stored in reserve for at least five years. Meanwhile, in Utah, a similar bill has already passed the House of Representatives and, in order to enter into force, he must be approved by the Senate and signed by the Governor of the state.