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North Carolina Passes Crypto Investment Bill With 71–44 Vote
In a significant move, the North Carolina House has passed a crypto investment bill with a decisive 71-44 vote. The legislation, titled the Digital Assets Investment Act (House Bill 92), aims to allocate up to 5% of public funds to cryptocurrency investments.
The bill’s passage marks a major milestone in state-level crypto regulation and underscores the growing recognition of digital assets as a viable investment option. The proposed law emphasizes strict conditions for any investment, including third-party assessments confirming secure custody, risk oversight, and regulatory compliance before any funds are deployed.
Notably, the bill does not specify which digital assets qualify for investment, leaving room for further analysis and evaluation by state authorities. However, it is clear that any investments would need to meet rigorous security and risk standards to ensure protection of public funds.
A separate companion bill, HB 506 or the State Investment Modernization Act, was also passed by the North Carolina House with an overwhelming 110-3 vote. This legislation seeks to establish a new entity, the North Carolina Investment Authority (NCIA), which would oversee all asset management, including crypto investments once approved by its independent board.
In parallel with House Bill 92, this proposed authority structure aims to separate investment responsibilities from the state treasurer’s office and entrust them to an impartial governing body. State Treasurer Brad Briner has publicly expressed support for both bills.
It is essential to note that North Carolina is not pioneering crypto legislation; Arizona has already taken a leading role in this space. The Sunshine State recently approved two bills aimed at building a state-backed cryptocurrency reserve, with the Senate and House passing SB 1025 and SB 1373, respectively.
New Hampshire, another key player, has also made strides, having brought its proposal for a Bitcoin reserve to a full Senate vote. This collective push towards crypto-backed reserves underscores the growing acceptance of digital assets in mainstream governance.
While North Carolina’s approach is distinct from that of Arizona and New Hampshire, it shares their commitment to cautious, structured engagement with cryptocurrency markets. Both bills emphasize multiple layers of oversight, clear limits, and regulatory checks, signaling a shift in state-level government policy regarding crypto investments.
The legislative progress in these states marks an important turning point for the digital asset industry, as governments increasingly consider integrating cryptocurrencies into their financial strategies.
Source: https://coinchapter.com/north-carolina-passes-crypto-investment-bill-with-71-44-vote/
