PANews reported on March 26 that North Carolina lawmakers submitted two bills to the House of Representatives and the Senate, suggesting that some pension funds be allowed to be invested in crypto assets, with a maximum ratio of 5%. Congressman Brenden Jones proposed the "State Investment Modernization Act" (HB 506), and the Senate submitted a similar bill SB 709. These bills aim to establish an independent "investment agency" to manage various fund investments, including state retirement funds.
The bill stipulates that investment institutions can invest funds in digital assets such as cryptocurrencies, stablecoins and NFTs, and must adopt secure custody solutions while evaluating the risks and returns of assets. Previously, North Carolina has submitted a bill to authorize state finance officials to invest in Bitcoin. Crypto assets are becoming an investment direction that legislators in various states in the United States are paying attention to.
Earlier news, North Carolina's Bitcoin Reserve Act proposes to authorize 10% of public funds to be used to purchase Bitcoin .
