North Carolina House of Representatives passes state crypto investment bill

The North Carolina House of Representatives has passed a bill that would allow the state's treasurer to invest public funds in approved cryptocurrencies, and the bill will now go to the Senate for consideration. The House passed the Digital Asset Investment Act (aka House Bill 92) on April 30 by a vote of 71 to 44.
Republican House Speaker Destin Hall introduced the bill in February to allow the Treasury Secretary to allocate 5% of the state's investments to designated digital assets. Investments can only be made after obtaining an independent third-party assessment confirming that cryptocurrency holdings are maintained through a secure custodian solution and meet risk oversight and regulatory compliance standards.
The new amendment allows treasurers to study the feasibility of allowing members of retirement and deferred compensation plans to choose to invest in digital assets held as exchange-traded products (ETPs).