PANews reported on May 1 that the North Carolina House of Representatives passed a bill by a vote of 71 to 44, allowing the state treasurer to invest public funds in approved cryptocurrencies. The bill, introduced by Republican House Speaker Destin Hall, permits up to 5% of state investments to be allocated to digital assets, but requires an independent third-party assessment to ensure investment safety and compliance. The new amendments also allow for the study of the feasibility of retirement and deferred compensation plan members investing in digital assets in the form of exchange-traded products (ETPs). Additionally, the House passed the State Investment Modernization Act, which plans to establish the North Carolina Investment Management Authority (NCIA) to take over the investment management responsibilities of the treasurer.
North Carolina House Passes State Crypto Investment Bill Allowing Up to 5% of State Investments in Digital Assets
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PANews2025/05/01 07:26
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