Well, folks, here we are. North Carolina’s House of Representatives has gone full-on crypto mode. They just passed a bill that lets the state’s treasurer throw some public funds into approved cryptocurrencies. Guess what? The bill is now headed to the Senate for its shot at glory.
The bill, officially known as the Digital Assets Investment Act (a.k.a. House Bill 92), passed its third reading on April 30, and it wasn’t even close—71 to 44, which honestly seems like a pretty solid endorsement for crypto. The treasurer could now be holding up to 5% of the state’s investments in digital assets. You know, just a casual experiment with the future of finance. No big deal.
Now, before you start imagining North Carolina going full “buy the dip,” there are a few rules. The treasurer can only make these moves if a third party steps in to confirm that the crypto stash is locked up tight, following proper risk oversight and compliance standards. So, basically, the crypto is safe… unless the third-party auditor is, like, “meh, whatever, we’re fine.”
Oh, and here’s the twist! New amendments now allow the treasurer to think about letting retirement and deferred compensation plans invest in digital assets as exchange-traded products (ETPs). It’s like retirement meets the Wild West. Will it happen? Probably not, but wouldn’t that be fun?
But wait—there’s more! On the same day, North Carolina’s House also passed another bill, the State Investment Modernization Act (HB 506), in a practically silent 110 to 3 vote. This one is all about creating the North Carolina Investment Authority (NCIA), which could be the next big thing, taking over investment management from the treasurer. So, you know, just casually retooling the whole investment strategy of the state.
If this thing becomes law, the power to invest in crypto would transfer from the treasurer to the NCIA. And, of course, they’d need the blessing of a board of directors, who would, for sure, be asking for third-party assessments before anything happens. Because we all love a good audit, right?
In case you’re wondering, Treasurer Brad Briner is all for both bills. I mean, who wouldn’t be? Crypto’s the future, or whatever.
Arizona is Winning, But Not by Much
But hey, North Carolina’s not *the* leader in this crypto bill race. That honor goes to Arizona, which already passed two bills on April 28: SB 1025 and SB 1373. Both aim to create a crypto reserve for the state. Arizona is seriously ahead of the game. The only state that’s even close to them? Well, that’s North Carolina. So, you know, we’re keeping up… sort of.
Arizona’s bills are already awaiting the governor’s decision, so if you’re hoping for a quick decision on crypto legislation, Arizona’s your team. North Carolina’s just playing catch-up, but with style.
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2025-05-01 07:52