Businesses: other; regulation of convertible virtual currency; limit. Creates new act.

HB 5132, the "Use of Convertible Virtual Currency Protection Act," prohibits Michigan government entities from restricting how individuals or businesses use digital money (like Bitcoin) for personal purchases, as collateral, or via self-managed digital wallets. It specifically bans taxes or reporting requirements for transactions under $200 using digital money. The bill also allows people harmed by violations to sue for triple their actual damages. This directly affects residents and businesses using digital currency in Michigan, ensuring their transactions remain tax-free and unregulated for small amounts.