North Carolina’s House of Representatives Passes a Bitcoin Bill
North Carolina’s House of Representatives has advanced legislation that could open the door to cryptocurrency investments for state funds.
The Digital Assets Investment Act (HB 92), approved 71-44 on April 30, permits the state treasurer to invest up to 5% of public funds in designated digital assets, contingent on an independent third-party assessment verifying secure custody and regulatory compliance.
Originally introduced by House Speaker Destin Hall in February, the bill was amended to include a feasibility study on allowing retirement plan members to invest in crypto through exchange-traded products (ETPs).
Meanwhile, the House also passed the State Investment Modernization Act (HB 506) with near-unanimous support (110-3), which would transfer investment oversight from the treasurer to a newly formed North Carolina Investment Authority (NCIA).
The bill now heads to the Senate, where further debate will determine its final fate.
