US Minnesota Senator Introduces Bitcoin Bill After Shifting from Skeptic to Supporter

Minnesota Senator Jeremy Miller introduced the "Minnesota Bitcoin Bill," which he drafted after completely changing his stance on Bitcoin. In a statement on March 18, Miller said: "With more research on cryptocurrency and more feedback from voters, I went from highly skeptical to gradually understanding, to believing in Bitcoin and other cryptocurrencies." Miller stated that the bill aims to promote the prosperity of Minnesota by allowing the Minnesota Investment Committee to invest state assets in Bitcoin and other cryptocurrencies, just like investing in traditional assets.

According to Miller's bill, Minnesota employees will be able to add Bitcoin and other cryptocurrencies to their retirement accounts. The bill will also allow residents to pay state taxes and fees with Bitcoin. Colorado and Utah have already accepted cryptocurrency for tax purposes, while Louisiana allows it for state services. Investment income from Bitcoin and other cryptocurrencies will also be exempt from state income tax.