Minnesota Bitcoin Act proposed, payments to the state by cryptocurrency allowed, State Board of Investment authorized to invest in cryptocurrency, and various tax provisions modified.

The Minnesota Bitcoin Act (HF2946) is a proposed bill that aims to integrate cryptocurrency into the state's financial system. It seeks to allow residents to make payments to the state using cryptocurrencies like Bitcoin, authorize the State Board of Investment to invest in cryptocurrencies, and modify tax laws to accommodate these changes. The bill was introduced on April 1, 2025, by Representative Bernie Perryman and referred to the House State Government Finance and Policy Committee. On April 24, 2025, Representative Dan Wolgamott was added as an author but was later removed on February 26, 2026. The bill has a companion in the Senate, SF2661, introduced on March 24, 2025.

Supporters of the Minnesota Bitcoin Act argue that it positions the state as a leader in financial innovation by embracing digital currencies. They believe that allowing cryptocurrency payments and investments could attract tech-savvy businesses and investors, potentially boosting the state's economy. Proponents also suggest that modernizing tax laws to include cryptocurrencies reflects the evolving financial landscape and meets the needs of residents who use digital assets.

Critics of the bill express concerns about the volatility and regulatory uncertainties associated with cryptocurrencies. They worry that accepting cryptocurrency payments could expose the state's finances to significant risk. Additionally, opponents argue that authorizing the State Board of Investment to invest in cryptocurrencies might jeopardize public funds due to the unpredictable nature of digital asset markets. There are also apprehensions about the potential for increased tax evasion and the challenges of effectively monitoring cryptocurrency transactions.