South Carolina Proposes New Bill Allowing Investment in Bitcoin: Details
U.S. states continue to adopt Bitcoin and propose legislation that would allow Bitcoin to be held as a reserve in their treasuries and diversify their assets.
Recently, the state of South Carolina introduced a bill named 'Bill H4256' that allows the state treasurer to purchase digital assets and store them either directly or through a specialized custodian providing such services, or to purchase digital products and investments directly related to digital assets.
The bill stipulates that the addresses holding digital assets must be published on the official state website to allow the public to track and monitor the funds, and it has been proposed that reports must be submitted every two years regarding the status of the treasury's digital assets and their value in dollars.
The bill also suggested that budget surpluses be directed toward purchasing these digital assets, and they can be sold and converted into the U.S. reserve.
Thus, South Carolina joins more than 24 states out of 50 U.S. states that have all introduced a Bitcoin reserve bill.
