North Carolina Makes Bold Move Toward Bitcoin: Details

North Carolina is inching closer to becoming a crypto-forward state after the House of Representatives approved a landmark bill that could allow public funds to be invested in digital assets. The Digital Assets Investment Act, known as House Bill 92, passed its third reading on April 30 with a 71-44 vote and is now headed to the Senate for consideration. Introduced by Republican House Speaker Destin Hall in February, the bill empowers the state’s treasurer to allocate up to 5% of North Carolina’s investment holdings into select cryptocurrencies. However, this allocation wouldn’t be done blindly—strict guardrails are in place. Before any investment is made, the treasurer must obtain an independent third-party review confirming secure custody, regulatory compliance, and robust risk oversight. An added amendment opens the door to exploring whether retirement plan participants might soon have the option to include digital assets, via exchange-traded products (ETPs), in their portfolios—something that could appeal to the state’s more adventurous savers. Modernizing Investments in a Changing Landscape In tandem with HB 92, the House also overwhelmingly passed the State Investment Modernization Act (HB 506) by a vote of 110 to 3. This bill seeks to create a new body—the North Carolina Investment Authority (NCIA)—which would eventually take over all investment management duties from the treasurer. Should both bills become law, the NCIA would take the reins on crypto investments, with decisions requiring board approval and third-party assessments. This structure aims to balance innovation with accountability. State Treasurer Brad Briner has expressed his support for both pieces of legislation, a signal that the state’s leadership is not shying away from embracing digital finance. North Carolina Following in Footsteps of Arizona North Carolina now becomes the second U.S. state after Arizona to push forward comprehensive crypto investment legislation at the state level. Just days earlier, on April 28, Arizona’s House approved two crypto-related bills, SB 1025 and SB 1373, both of which are now awaiting a final decision from Governor Katie Hobbs. While Arizona may be ahead in the race, North Carolina’s cautious, compliance-first approach could serve as a model for other states exploring similar paths. With the crypto market maturing and regulatory frameworks tightening, state-level adoption is no longer a fringe idea—it’s fast becoming a fiscal reality. The post North Carolina Makes Bold Move Toward Bitcoin: Details appeared first on TheCoinrise.com .

Source: The Coin Rise