Minnesota Joins Pro-Crypto Movement with New Bill to Integrate Bitcoin into State Investments and Tax System

A new bill, the Minnesota Bitcoin Act (SF2661) , introduced by Senator Jeremy Miller on March 18, 2025, seeks to modernize Minnesota’s approach to digital assets and position it as a leader in the sector. The legislation seeks to allow state funds to be invested in Bitcoin while integrating crypto-friendly policies into tax payments and retirement plans.

If passed, it would authorize the Minnesota State Board of Investment to allocate public funds to Bitcoin and other cryptocurrencies, treating them similarly to stocks and bonds. Additionally, state employees could include crypto in their retirement portfolios.

The bill also proposes expanding cryptocurrency use by allowing residents to pay state taxes and fees in Bitcoin, similar to initiatives in Colorado and Utah. Another key provision introduces tax incentives, enabling certain Bitcoin and crypto earnings to be deducted from taxable income.

“I believe global digital currencies are here to stay, and it’s inevitable that they become more mainstream,”

Senator Miller stated . He emphasized that the bill could create new financial opportunities while giving Minnesota a strategic advantage in the digital economy.

Texas has been at the forefront of state-level crypto adoption, with both legislative chambers pushing investment-friendly policies. Senate Bill 778, which recently secured a majority vote, awaits review in the House. Meanwhile, House Bill 4258 seeks to allocate $250 million from the state’s economic stabilization fund into Bitcoin and other crypto assets.

Other states, including Georgia , Pennsylvania, Ohio , New Hampshire , and North Dakota , are also actively considering various proposals to integrate Bitcoin into their financial systems.

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