The North Carolina House of Representatives has approved a bill allowing the state’s treasurer to invest a segment of public funds in designated cryptocurrencies.
The legislation, dubbed the Digital Assets Investment Act or House Bill 92, received passage on April 30 with a vote tally of 71 in favor and 44 against. It will now advance to the Senate for additional examination.
Introduced by Republican House Speaker Destin Hall in February, the bill permits the treasurer to allocate up to 5% of the state’s overall investments into certain digital assets.
New Bill Implements Third-Party Oversight for Crypto Investments
Any investment in cryptocurrencies under this new bill will necessitate an independent third-party review to ensure compliance with custody regulations, risk management protocols, and other legal standards.
Additionally, a recent amendment to the legislation enables the treasurer to assess the option for public retirement and deferred compensation fund members to participate in digital asset investments through exchange-traded products (ETPs).
On a related front, the House also passed the State Investment Modernization Act, known as House Bill 506, with overwhelming support, receiving a vote of 110 to 3.
This bill suggests the creation of the North Carolina Investment Authority (NCIA), which would take over investment decisions from the state treasurer. Under this framework, the NCIA could authorize cryptocurrency investments, contingent on board approval and external validation.
North Carolina Treasurer Brad Briner has shown his backing for both pieces of legislation, as reported by local news outlet NC Newsline.
JUST IN: North Carolina #Bitcoin Reserve legislation passes the House. pic.twitter.com/pHy8b5dUsZ
— Bitcoin Magazine (@BitcoinMagazine) April 30, 2025
With this move, North Carolina is positioning itself alongside Arizona in establishing frameworks for crypto-related public investments.
Arizona’s legislature recently passed two bills regarding crypto reserves, SB 1025 and SB 1373, which are currently awaiting Governor Katie Hobbs’ approval.
If North Carolina’s bills are signed into law, the state could join a small group of states actively integrating digital assets into their public financial strategies.
The growing acceptance of Bitcoin is gaining significant traction across the U.S., with 47 Bitcoin reserve bills introduced in 26 states, of which 41 remain active.
Most recently, Kentucky Governor Andy Beshear signed House Bill 701, titled the “Bitcoin Rights” bill, into law, making Kentucky one of the latest states to enact protections for digital asset users and operations.
Major Increase in Bitcoin Holdings Among Public Companies in Q1 2025
In the first quarter of 2025, publicly traded companies ramped up their Bitcoin holdings by 16.1%, indicating persistent institutional interest amid market fluctuations.
Data from crypto asset manager Bitwise reveals that total corporate Bitcoin holdings reached approximately 688,000 BTC by the end of Q1, with companies acquiring an additional 95,431 BTC during the three-month period.
According to Bitwise, the combined market value of these holdings stood at $56.7 billion, based on a closing price of $82,445 per Bitcoin—marking a 2.2% appreciation in value.
In a notable move, healthcare technology firm Semler Scientific expanded its Bitcoin reserves with a $10 million purchase, underscoring its strategic shift towards digital assets.
This latest acquisition increases the company’s Bitcoin treasury to over 3,300 BTC, which is valued at approximately $300 million based on current market estimates.
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