The North Carolina House of Representatives has passed House Bill 92, the Digital Assets Investment Act, which allows the state treasurer to invest public funds in approved cryptocurrencies. The bill passed with a vote of 71 to 44 and allows for a maximum allocation of 5% of the state's investments into designated digital assets, contingent upon third-party assessments ensuring secure custody and regulatory compliance. Amendments added will also enable the treasurer to assess the feasibility of allowing retirement plan members to invest in digital assets through exchange-traded products. Additionally, the House approved the State Investment Modernization Act, which aims to create the North Carolina Investment Authority (NCIA) to manage investments, including digital assets, subject to board approval and third-party evaluations. This makes North Carolina the second state, following Arizona, to advance legislation facilitating investment in cryptocurrencies.

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