Michigan has taken the next step for its strategic crypto reserve bill, which moved to a second reading on Thursday. 

The Michigan House Bill 4087, which would allow the state to invest in crypto assets under specific conditions, has moved to a second reading and was referred to the Committee on Government Operations.

The legislation amends the Michigan Management and Budget Act to establish guidelines for a strategic crypto reserve, though it does not mention Bitcoin (BTC) specifically. 

It comes amid a recent lull in developments around state-level Bitcoin reserves. 

The bill was introduced by Republican Representatives Bryan Posthumus and Ron Robinson in February and would permit the state treasurer to invest up to 10% of funds from…