Key Takeaways:
- North Carolina introduced House Bill 506 and Senate Bill 709 to allow up to 5% of state investment funds in digital assets.
- The proposed North Carolina Investment Authority (NCIA) would assess digital assets without market cap requirements.
- The bills are not a mandate to hold Bitcoin long-term but allow investment in various digital assets.
North Carolina lawmakers have proposed two new bills that could allow the state to invest a portion of its retirement funds into digital assets like cryptocurrencies.
House Bill 506, called the Investment Modernization Act, was introduced on March 24 by Representative Brenden Jones.
🚨 NEW: North Carolina Bitcoin Investment Bill
— Bitcoin Laws (@Bitcoin_Laws) March 25, 2025
House Bill 506 would create a new independent NC Investment Authority headed by the Treasurer.
The NCIA would have authority to invest 5% of various state funds in digital assets. pic.twitter.com/YuYmI8YyY2
It calls for the creation of an independent agency, the North Carolina Investment Authority (NCIA), which would operate under the oversight of the state Treasury.
The NCIA would be responsible for managing up to 5% of certain state investment funds in digital assets.
A companion bill, Senate Bill 709, introduced on March 25, mirrors the House bill.
The proposed legislation defines digital assets broadly, including cryptocurrencies, stablecoins, non-fungible tokens (NFTs), and other electronically based assets that provide economic or ownership rights.
Unlike other proposals in the U.S., these bills do not require a minimum market capitalization for eligible assets.
Instead, the NCIA would evaluate the risk-reward profile of each investment and ensure secure custody practices are followed.
While the legislation has caught attention from cryptocurrency advocates, especially those focused on Bitcoin, it does not mandate the state to hold any specific digital asset, nor is it intended as a reserve asset policy.
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