North Carolina Digital Assets Bill Passes House, Moves to Senate for Debate
North Carolina's House of Representatives passed the "Digital Assets Investment Act" (HB92), allowing the State Treasurer to invest in qualified digital assets and consider them for state employee retirement plans. The bill mandates the Treasurer's office to explore investment options, recommend contribution limits, and create educational materials on investment risks. It also proposes a feasibility study for a state-run reserve for seized crypto assets, overseen by the State Bureau of Investigation. A related bill, SB 327, allows up to 10% of public funds to be allocated to Bitcoin, promoting it as a financial innovation strategy. Other states, including Arizona and Texas, are considering similar legislation, while some initiatives in states like Oklahoma and Pennsylvania have stalled. The maximum investment limit in HB92 was revised from 10% to 5%.
