PANews reported on March 19 that according to Bitcoin Laws, North Carolina's Bitcoin Reserve Act SB327 authorizes the state treasurer to allocate up to 10% of public funds to Bitcoin. The details are as follows: the custody method is multi-signature cold storage; the proof of reserve is audited monthly; the holding policy is that sales are only allowed under "serious financial crises" and strict conditions. North Carolina currently has $9.5 billion in its general fund.