Summary
- The 'Digital Asset Investment Act' has passed, allowing the North Carolina state government to invest up to 5% of public funds in cryptocurrencies.
- North Carolina is evaluated to be able to diversify its investment strategy through investments in digital assets.
- The North Carolina Investment Agency (NCIA) has been established and will take over the investment management authority of the state treasury, including cryptocurrency investments.
A bill allowing public funds to be invested in cryptocurrencies such as Bitcoin (BTC) has passed the North Carolina House.
According to Cointelegraph on the 1st, the North Carolina House passed the 'Digital Asset Investment Act' on the 30th (local time) with a vote of 71 to 44. The core of the bill is to allow up to 5% of North Carolina state government investments to be allocated to digital assets such as cryptocurrencies.
On the same day, the North Carolina House also passed the 'State Investment Modernization Act' with a vote of 110 to 3. The core of the bill is to establish the North Carolina Investment Agency (NCIA) and transfer the investment management and supervision authority of the state treasury to it. This means that future cryptocurrency investments in North Carolina will also be managed by the NCIA.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul![[New York Stock Market Briefing] Rebound on bargain hunting in blue chips…Apple jumps 4%](https://media.bloomingbit.io/PROD/news/3710ded9-1248-489c-ae01-8ba047cfb9a2.webp?w=250)
