Minnesota Bitcoin Act allows cryptocurrency payments to the state and authorizes the State Board of Investment to invest in cryptocurrency.
The Minnesota Bitcoin Act amends state statutes to allow payments to the state by cryptocurrency and authorizes the State Board of Investment to invest in cryptocurrency. It modifies various tax provisions, including the definition of cryptocurrency as virtual currency secured by cryptography and recorded on a distributed ledger. The bill also allows agencies to accept credit cards, charge cards, debit cards, and cryptocurrency for payments, and mandates the commissioner of management and budget to contract with entities for processing these transactions. Effective January 1, 2026.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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