Michigan House votes to add cryptocurrency to criminal code

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FILE- In this Dec. 21, 2017, file photo, a Bitcoin logo is shown is displayed on an ATM in Hong Kong. Google says it is going to ban advertisements for cryptocurrencies such as bitcoin, as well as related content like trading advice and cryptocurrency wallets. (AP Photo/Kin Cheung, File)

LANSING, Mich. (AP) — Michigan lawmakers have voted to update various criminal laws to specify that acting illegally for financial gain includes cryptocurrency transactions.

The House voted 108-1 this past week to send the legislation to the Senate, where the bills will be considered next.

The bills would add direct and indirect references to cryptocurrencies such as bitcoin to prohibitions against animal fighting, racketeering, embezzling, counterfeiting records and money laundering.

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