North Carolina House Approves Bill for Public Fund Investment in Cryptocurrency

According to PANews, the North Carolina House of Representatives has passed a bill allowing the state treasurer to invest public funds in approved cryptocurrencies. The legislation, introduced by Republican House Speaker Destin Hall, permits up to 5% of state investments to be allocated to digital assets, contingent upon independent third-party evaluations to ensure safety and compliance. The revised bill also explores the feasibility of retirement and deferred compensation plan members investing in digital assets through exchange-traded products (ETPs). Additionally, the House approved the State Investment Modernization Act, which proposes the establishment of the North Carolina Investment Management Authority (NCIA) to assume the investment management responsibilities of the state treasurer source: https://www.binance.com/en/square/post/23647136671682?utm_source=BinanceNewsRSS