Michigan Lawmaker Proposes Bitcoin Payroll and CBDC Ban
State Representative Matt Maddock has introduced legislation that would permit employee wages to be paid in Bitcoin and block issuance of a central bank digital currency in Michigan.
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Summary
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Terms & Concepts
- Bitcoin payroll: Compensating employees with Bitcoin instead of traditional fiat currency.
- CBDC (central bank digital currency): A digital form of central bank-issued money, typically backed by the government and considered legal tender.