The legislators of North Carolina have introduced a bill with which the State treasurer can invest up to 10% in Bitcoin (BTC) and other eligible digital assets.
House Bill 92, sponsored by representative Destin Hall and representatives Mark Brody and Steve Ross, qualifies each crypto with a market capitalization of more than $ 750 billion during the 12 months prior to the potential investment as a qualifying digitally active.
In particular, only Bitcoin fits comfortably this requirement, because the threshold is more than 2x higher than the current market capitalization of $ 323 million from Ethereum (ETH).
In addition, the investment must take place via a regulated grant -related product (ETP).
According to the bill, the treasurer of North Carolina can invest in crypto via the General Fund, Highway Fund and the 24 special funds under supervision.
The Governor and the Council of State will supervise the implementation of digital power investments, and external investment managers who handle digital assets, must have at least $ 100 million in managed capital.
20 American states
North Carolina is the 20th US state that introduces the legislation of the Bitcoin Reserve. Last week, legislators in Montana and Florida introduced accounts to set up Bitcoin reserves, which contributes to the growing number of US states that integrate digital assets into their financial strategies.
Montana’s House Bill 429 sets a special income for investments in precious metals, stablecoins and digital assets, which require a minimal market capitalization of $ 750 billion.
The bill also requires that these assets are held by a qualified custodian or via a stock market -bound fund (ETF). Up to $ 50 million from the General Fund of the State can be assigned to this investment.
In Florida, a similar bill wants to allow the Chief Financial Officer (CFO) of the State to invest in Bitcoin, which allocates up to 10% of the public funds to the active. The legislation positions Bitcoin as a cover against inflation, with reference to its historical valuation and increasing acceptance between sovereign countries and investment firms.
It also includes provisions for government agencies to accept Bitcoin payments and at the same time require conversion in US dollars for contributions from general income funds.
Legislers in Maryland, Iowa and Kentucky have also introduced accounts To integrate Bitcoin (BTC) as a strategic reserve resistant.
Kentucky House Bill 376, led by representative TJ Roberts, would allow Bitcoin investments up to 10% of the surplus state funds, allow digital activity to be and forbid Central Bank Digital Currencies (CBDCs).
Maryland’s House Bill 1389, introduced by representative Caylin Young, proposes a Bitcoin Reserve Fund from Maryland that fines for gambling of violation would unique.
In the meantime, the house stock of Iowa 246, of representative Taylor Collins, would enable the treasurer to invest in Bitcoin, Stablecoins and precious metals, with a limit of 5% on allocations of the public fund.
