MON AM News: Dem bill aims to support cryptocurrency innovation; GOP bill would require retailers to accept cash for in-person transactions

April 21, 2025

— A bill from Dem lawmakers would create an innovation program for financial services and a related pilot project, aimed at supporting Wisconsin entrepreneurs and businesses exploring cryptocurrency applications.

That’s according to Sen. Dora Drake, D-Milwaukee, who spoke during last week’s WI Digital Policy Forum at the Milwaukee County Historical Society. The Wisconsin Innovation Network legislation, or WIN bill, is from Drake and Rep. Russell Goodwin, D-Milwaukee.

Drake said provision of the bill would help educate the public about cryptocurrency and other related software applications, while also creating a regulatory framework for companies looking to leverage the technology.

She argued this approach would “ensure that any entrepreneur that is interested in building a business” in the financial technology industry will get the support they need to do so. Drake said she wants to send a signal that “we welcome innovation here” as crypto applications become more widespread.

“I would hate for Wisconsin to miss out on that opportunity,” she said.

Also during last week’s event, Sen. Patrick Testin, R-Stevens Point, said “there’s a lot of openness” to cryptocurrency among Wisconsin lawmakers. Still, he added many GOP lawmakers likely “aren’t as familiar” with the technology but added he’s “intrigued” by Drake’s proposal.

In discussing the progress of industrial innovation in Wisconsin, Testin referenced the multiple new data centers being planned at sites across the state.

“It’s industries like these where, again, we need to be open-minded to be on the forefront,” he said. “Have the guardrails in place … but also not have it so restrictive that it strangles this industry.”

Drake said she spoke with officials with the state Department of Financial Institutions while crafting the bill, noting the importance of keeping consumer protections in place while allowing for greater innovation.

Under the bill, DFI would be required to create a financial services innovation program that allows for the temporary testing of “innovative financial products or services” in the Wisconsin market without getting a license or other authorization that would normally be required. The bill includes various restrictions on these test runs.

It would also require the agency to conduct a test pilot to educate the public about cryptocurrency, help Wisconsin businesses implement cryptocurrency as an “accepted method of payment,” support entrepreneurs in this field and award grants for each of these priorities.

See more details on the legislation here.

— Legislation being circulated by GOP lawmakers would require retailers to accept cash for in-person transactions.

Rep. Joy Goeben, R-Hobart, and Sen. Rachael Cabral-Guevara, R-Appleton, recently sent a co-sponsorship memo to other lawmakers seeking support for the change. They noted increasingly common cashless transaction models “discriminate” against customers that don’t have good enough credit to obtain a debit or credit card.

“Given the rise in surcharges on debit/credit transactions, individuals should have the right to pay for goods and services via cash if they prefer,” they wrote.

Under the bill, any retailer selling goods or services from a physical location would be required to accept cash at one or more points of sale there, unless the business is otherwise legally prohibited from accepting cash. Violating the law would result in a fine of $200 to $5,000, according to the memo.

Authors note the bill accounts for large venues such as Summerfest in Milwaukee and Lambeau Field in Green Bay, as they would only be required to have at least one vendor on site that accepts cash.

The co-sponsorship deadline is 4 p.m. Wednesday.

See the memo.

— UW Health is touting the impact of Wisconsin’s first reproductive endocrinology and infertility fellowship program, one of about 50 in the country.

Dr. Bala Bhagavath, infertility physician, reproductive surgeon and director of the REI program at UW Health, says the program is “crucial to expanding our training opportunities and improving access to fertility care services.”

The fellowship program trains doctors and supports providers offering infertility care and reproductive endocrinology care — a specialty focused on hormonal problems linked to infertility. The health system says it aims to improve access to in vitro fertilization treatment and other care for reproduction-related conditions.

Dr. Ellen Hartenbach, chair of the Department of Obstetrics and Gynecology at the UW School of Medicine and Public Health, notes the country is facing a shortage of trained REI doctors. She says the program will help develop such doctors as well as recruit them to stay and practice in Wisconsin.

After the program was approved by the Accreditation Council for Graduate Medical Education in early 2024, UW Health brought on Dr. Jayapriya Jayakumaran later last year as the first REI program fellow. Since then, she’s been treating patients with infertility, polycystic ovary syndrome, endometriosis and other reproductive health issues.

“The fellowship has allowed me to train in a rigorous academic and clinical environment,” she said in a statement. “It offers me exposure to diverse cases, cutting-edge research and exceptional mentorship in an environment where I have been treated like family.”

See more on the program here.

— Dairyland Power Cooperative says the Trump administration has affirmed it will receive a $595 million federal grant that was announced late last year.

The announcement from the La Crosse-based co-op comes amid widespread uncertainty about federal funding continuing for numerous programs, as the Department of Government Efficiency pushes for cuts across various agencies.

The New Empowering Rural America grant award, announced in September 2024, aims to boost grid reliability and resilience through transmission line upgrades, diversify energy resources for rural communities and lower rates for rural customers.

The co-op’s announcement cites the “vital support” of both President Donald Trump and U.S. Secretary of Agriculture Brooke Rawlins.

“In alignment with President Trump’s policy of unleashing American energy and natural resources, New ERA empowers rural America by allowing Dairyland to diversify resources and finance key transmission projects needed to support growth in rural areas,” Dairyland President and CEO Brent Ridge said in a statement.

See the release.

— In the latest Dem radio address, Gov. Tony Evers celebrates the upcoming 2025 NFL draft in Green Bay.

“Hosting the draft is a win-win-win for our state. It’s a win for the players and for the fans, and a win for all the folks that will be coming to our door to see what we’re all about,” the Dem governor says. “The draft is an outstanding opportunity to showcase everything Wisconsin and Titletown have to offer, and on a global stage.”

Evers says he worked to secure $2 million in the last state budget to support marketing efforts to promote Wisconsin and Green Bay, and touts the creation of a new Opportunity Attraction and Promotion Fund to bring large events to the state.

“So whether you’re watching at home or making your way to Lambeau, welcome to Wisconsin, Football Fans. We are happy to have you here,” Evers says.

See a recent story on the upcoming NFL Draft and check out coverage of a related pitch competition being put on by TitletownTech.

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TOPICS

EDUCATION

– Wisconsin Supreme Court allows Evers’ 400-year boost to school funding

LABOR

– Fiserv plans regional headquarters in Kansas, hiring 2,000

LEGAL

– Investor/developer Kay Yang faces prison time after felony conviction

– Café Corazon employees file lawsuit against owners over use of mandatory tip pool