Bill > HB5133

This bill establishes the "Central Bank Digital Currency Prevention Act" in Michigan, which prohibits governmental entities from using, accepting, or requiring central bank digital currency (CBDC) as legal tender. The bill defines CBDC as a digital currency issued by federal, state, or foreign government entities that is directly available to consumers and processed by those entities. Under the proposed legislation, governmental entities are forbidden from accepting CBDC as legal tender for any services, taxes, licenses, permits, fees, or other amounts, and they are also prohibited from advocating for or supporting the testing, adoption, or implementation of CBDC by the United States government. If a person suffers a financial loss due to a violation of this act, they can file a civil lawsuit against the governmental entity, and if successful, would be entitled to recover three times their actual damages. The bill aims to prevent the potential widespread adoption of digital currencies issued by central banks and protect traditional forms of legal tender.

Budget and Finance

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-5133