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Primary Sponsor

Last Action

Ref To Com On Rules and Operations of the Senate2025-05-01

Vote Breakdown

Plain Language Summary

This bill authorizes North Carolina's State Treasurer to invest state funds in digital assets like cryptocurrencies and NFTs, but only up to 5% of designated funds and only after independent security review. It also directs the Treasurer to study whether state employees can invest retirement funds in digital assets and requires law enforcement to study creating a state reserve for seized or forfeited digital assets.

Arguments in Favor

• •Supporters argue this positions North Carolina as forward-thinking in managing emerging asset classes and could generate returns for state funds and education.
• •They contend the bill includes safeguards like the 5% cap, independent third-party assessments, and strict security requirements to protect public money while allowing controlled exposure to a growing market.

Arguments Against

• •Opponents worry that digital assets are highly volatile and speculative, making them risky for public funds meant to serve retirees and essential state operations.
• •They argue cryptocurrency markets lack maturity and regulatory clarity, and question whether the security measures and caps are sufficient to protect taxpayer money from significant losses.