{"id":125825,"date":"2025-03-26T06:18:12","date_gmt":"2025-03-26T06:18:12","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125825"},"modified":"2025-03-26T06:18:12","modified_gmt":"2025-03-26T06:18:12","slug":"north-carolina-bills-would-add-crypto-to-states-retirement-system","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125825","title":{"rendered":"North Carolina bills would add crypto to state\u2019s retirement system"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsNorth Carolina lawmakers have introduced bills in the House and Senate that could see the state\u2019s treasurer allocate up to 5% of various state retirement funds into cryptocurrencies such as Bitcoin.<br \/>\nThe Investment Modernization Act (House Bill 506), introduced by Representative Brenden Jones on March 24, would create an independent investment authority under the state\u2019s Treasury to determine which digital assets could be suitable for inclusion into the state retirement funds.<br \/>\nAn identical bill, the State Investment Modernization Act (Senate Bill 709), was introduced into the state\u2019s Senate on March 25.<br \/>\nThe bills define a digital asset as a cryptocurrency, stablecoin, non-fungible token (NFT), or any other asset that is electronic in nature that confers economic, proprietary or access rights.<br \/>\nThe North Carolina bills don\u2019t set market cap criteria for digital assets, unlike other crypto bills that are working their way into law at the state level.<br \/>\nSource: Bitcoin LawsThe newly created agency, dubbed the North Carolina Investment Authority, would, however, need to carefully weigh the risk and reward profile of each digital asset and ensure the funds are maintained in a secure custody solution.<br \/>\nBitcoin legislation tracker Bitcoin Laws noted on X that House Bill 506 wasn\u2019t drafted as a Bitcoin reserve bill as it does not mandate the investment authority to hold Bitcoin (BTC) \u2014 or any digital asset \u2014 over the long term.<br \/>\nNorth Carolina wants in on Bitcoin bill race<br \/>\nOn March 18, North Carolina senators introduced the Bitcoin Reserve and Investment Act (Senate Bill 327), which calls for the treasurer to allocate up to 10% of public funds specifically into Bitcoin.<br \/>\nThe bill \u2014 introduced by Republicans Todd Johnson, Brad Overcash and Timothy Moffitt \u2014 aims to leverage Bitcoin investment as a \u201cfinancial innovation strategy\u201d to strengthen North Carolina\u2019s economic standing.<br \/>\nRelated: GameStop hints at future Bitcoin purchases following board approval<br \/>\nThe treasurer would need to ensure that the Bitcoin is stored in a multi-signature cold storage wallet, and the BTC could only be liquidated during a \u201csevere financial crisis,\u201d with approval from two-thirds of North Carolina\u2019s General Assembly.<br \/>\nThe bill would also create a Bitcoin Economic Advisory Board to oversee the reserve\u2019s management.<br \/>\nAccording to Bitcoin Law, 41 Bitcoin reserve bills have been introduced at the state level in 23 states, and 35 of those 41 bills remain live.<br \/>\nEarlier this month, US President Donald Trump signed an executive order to create a Strategic Bitcoin Reserve and a Digital Asset Stockpile, both of which will initially use cryptocurrency forfeited in government criminal cases.<br \/>\nMagazine: What are native rollups? Full guide to Ethereum\u2019s latest innovation<a href=\"https:\/\/cointelegraph.com\/news\/north-carolina-twin-bills-crypto-state-retirement-funds?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsNorth Carolina lawmakers have introduced bills in the House and Senate that could see the state\u2019s treasurer allocate up to 5% of various state retirement funds into cryptocurrencies&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125825"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125825"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125825\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125825"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}