{"id":128351,"date":"2025-05-01T05:34:56","date_gmt":"2025-05-01T05:34:56","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128351"},"modified":"2025-05-01T05:34:56","modified_gmt":"2025-05-01T05:34:56","slug":"north-carolina-house-passes-state-crypto-investment-bill","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128351","title":{"rendered":"North Carolina House passes state crypto investment bill"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsNorth Carolina\u2019s House of Representatives has passed a bill allowing the state\u2019s treasurer to invest public funds in approved cryptocurrencies, which will now head to the Senate.<br \/>\nThe House passed the Digital Assets Investment Act, or House Bill 92, on its third reading on April 30 by a vote of 71 to 44.<br \/>\nRepublican House Speaker Destin Hall introduced the bill in February, which would allow the treasurer to allocate 5% of the state\u2019s investments into designated digital assets.<br \/>\nThe investments can only be made after obtaining an independent third-party assessment confirming that the crypto holdings are maintained with a secure custody solution and risk oversight and regulatory compliance standards are met.\u00a0<br \/>\nNew amendments allow the treasurer to examine the feasibility of allowing members of retirement and deferred compensation plans to elect to invest in digital assets held as exchange-traded products (ETPs).<br \/>\nThe House also passed a related bill, the State Investment Modernization Act, or HB 506, with little discussion on April 30, in a 110 to 3 vote.<br \/>\nThe bill aims to create the North Carolina Investment Authority (NCIA) to take over investment management from the treasurer.<br \/>\nIf passed into law, authority to invest in digital assets would transfer from the treasurer to NICA, and it would require approval from its board of directors based on third-party assessments to make crypto investments.<br \/>\nLocal news outlet NC Newsline reported that Treasurer Brad Briner supports both bills.<br \/>\nCrypto legislation race. Source: Bitcoin LawsArizona leads the crypto bill race<br \/>\nNorth Carolina is second to Arizona in the state-level race to approve legislation allowing local governments to invest in cryptocurrencies.\u00a0<br \/>\nRelated: New Hampshire Bitcoin reserve bill heads to full Senate vote<br \/>\nOn April 28, Arizona\u2019s House approved two bills, SB 1025 and SB 1373, proposing different methods for the state to establish a crypto reserve.<br \/>\nArizona is the only state whose House and Senate have passed crypto-related bills, which are both awaiting Governor Katie Hobbs\u2019 decision.<br \/>\nMagazine: ZK-proofs unlock trillions in Bitcoin for DeFi \u2014 BitcoinOS and Starknet<a href=\"https:\/\/cointelegraph.com\/news\/north-carolina-house-passes-state-crypto-investment-bill?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\u2019s House of Representatives has passed a bill allowing the state\u2019s treasurer to invest public funds in approved cryptocurrencies, which will now head to the Senate. The&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\/128351"}],"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=128351"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128351\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128351"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}