1-5-2025 – North Carolina’s lower chamber has greenlit groundbreaking legislation that could reshape the state’s investment landscape. The Digital Assets Investment Act, formally designated as HB92, secured House approval following its third reading, marking a crucial milestone in the state’s crypto journey.
The legislation, spearheaded by Republican House Speaker Destin Hall, empowers the State Treasurer to diversify investment portfolios with qualified digital assets, whilst exploring their potential inclusion in state employees’ retirement schemes. The revised bill caps digital asset holdings at 5%, a more conservative approach compared to the initial 10% proposal.
Parallel to this development, a companion measure, SB 327, dubbed the Bitcoin Reserve and Investment Act, has emerged in the state Senate. This ambitious proposal, championed by Republican Senators Todd Johnson, Brad Overcash, and Timothy Moffitt, envisions allocating up to a tenth of public funds into Bitcoin, incorporating yield-generating strategies through staking and lending mechanisms.
The legislative landscape for cryptocurrency adoption extends far beyond North Carolina’s borders. Whilst Arizona, New Hampshire, and Texas contemplate similar Bitcoin reserve legislation, states like Indiana and Florida are exploring the integration of digital assets into their public pension frameworks.
However, the path to crypto adoption has not been uniformly smooth across American states. Several jurisdictions, including Oklahoma, Montana, and Wyoming, have witnessed their initiatives falter. The movement gains additional context against the backdrop of former President Donald Trump’s advocacy for crypto initiatives at the federal level.
