🔥 The North Carolina House of Representatives approves a bill to invest public funds in digital currencies

🔥 The House of Representatives in North Carolina passed a bill allowing the state's Treasurer to invest public funds in approved digital currencies.

🟢 This legislation, introduced by Republican House Speaker Destin Hall, allows for the allocation of up to 5% of state investments to digital assets, subject to independent third-party assessments to ensure security and compliance.

🟢 The amended bill also explores the feasibility of investing retirement plan members and deferred compensation in digital assets through exchange-traded products (ETPs). Additionally, the council approved a state investment update law, proposing the establishment of the North Carolina Investment Management Authority (NCIA) to take over the investment management responsibilities of the state Treasurer.

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