North Carolina Lawmakers Pass Bill Allowing State Funds Investment in Cryptocurrencies and Digital Assets

North Carolina House Approves Crypto Investment Bill for State Funds

On May 1, 2025, the North Carolina House passed House Bill 92 by a significant margin of 71 votes to 44. This crucial decision grants the state treasurer the authority to invest up to 5% of retirement funds into digital assets such as cryptocurrencies, non-fungible tokens (NFTs), and stablecoins.

The legislation, initiated by primary sponsor Mike Schietzelt, has sparked mixed reactions among lawmakers. Some, like Rep. Tracy Clark, have expressed concerns over the potential volatility of crypto assets impacting retirement funds, likening it to “gambling with state employees’ retirement funds.” However, proponents argue that this move would merely provide an additional asset class for the state to diversify its investments and ensure long-term fiscal health.

The bill’s passage has garnered attention from investors and experts alike, as it may potentially pave the way for broader institutional involvement in digital assets. Similar efforts were seen in Virginia’s Fairfax County, with smaller allocations in crypto strategies.

It remains to be seen how this decision will shape the future of institutional investment in cryptocurrencies.

Source: https://www.kanalcoin.com/north-carolina-crypto-investment-bill/