North Carolina House passes state crypto investment bill
North Carolina's House of Representatives passed the Digital Assets Investment Act (House Bill 92) on April 30, allowing the state treasurer to invest up to 5% of public funds in approved cryptocurrencies. The bill requires independent assessments to ensure secure custody and compliance before investments are made. Amendments permit the treasurer to explore digital asset investments for retirement and deferred compensation plans as exchange-traded products (ETPs). Additionally, the House passed the State Investment Modernization Act (HB 506) to create the North Carolina Investment Authority (NCIA), which would manage investments and require board approval for crypto investments. North Carolina ranks second to Arizona in advancing cryptocurrency legislation, with Arizona's bills awaiting the governor's decision.
