Michigan HB5133 prohibits governmental entities from using or advocating for central bank digital currency.
Michigan HB5133, known as the "central bank digital currency prevention act," prohibits governmental entities from accepting or requiring central bank digital currency as legal tender. It also bans advocacy for or support of the testing or implementation of such currency by any government. The act allows individuals who suffer losses due to violations to bring civil actions against the offending governmental entity, with courts mandated to award triple damages to prevailing plaintiffs.
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