North Carolina’s House of Representatives has passed the “Digital Assets Investment Act” (HB92), a landmark bill that would allow state-level investment in digital assets. The legislation now moves to the Senate for further review and signals growing momentum for crypto adoption in state finance.
Spearheaded by Republican House Speaker Destin Hall, the bill authorizes the State Treasurer to explore digital asset investment strategies and evaluate their potential inclusion in public employee retirement plans. HB92 also calls for the development of comprehensive frameworks, including educational materials, risk assessments, and contribution guidelines.
Beyond investment planning, the bill directs the State Bureau of Investigation to study the feasibility of a state-run digital asset reserve, which would manage crypto assets seized in law enforcement actions. This reserve could become a foundation for future custody infrastructure across North Carolina’s public institutions.
New Bill Proposes State Bitcoin Reserve
Following the House’s approval of HB92, North Carolina’s Senate is now reviewing Senate Bill 327 (SB327), also known as the “Bitcoin Reserve and Investment Act.” This separate bill focuses solely on Bitcoin, proposing that up to 10% of certain public funds be allocated to the asset.
Introduced on March 19 by Republican Senators Todd Johnson, Brad Overcash, and Timothy Moffitt, SB327 envisions creating a state-held Bitcoin reserve. The proposal also allows for yield-generating activities like staking and lending, positioning them as components of a broader “financial innovation strategy.”
Proponents argue the measure could help North Carolina gain a competitive economic edge by diversifying its reserves and embracing emerging asset classes. However, SB327 still faces several legislative hurdles, including committee evaluations and Senate floor debates, before it can become law.
States Push Crypto Plans, But Challenges Persist
North Carolina’s twin crypto proposals mirror a nationwide surge in digital asset legislation as U.S. states seek to capitalize on blockchain innovation despite the absence of clear federal policy.
States like Arizona, New Hampshire, and Texas are considering their own Bitcoin reserve bills, while others—including Indiana and Florida—are exploring crypto integration into public pension funds. In total, over a dozen states are reviewing policies focused on crypto reserves, retirement plans, and state-run custody solutions.
Still, not all efforts have succeeded. In Oklahoma, Montana, Pennsylvania, North Dakota, South Dakota, and Wyoming, similar proposals have either stalled in committee or failed to gain sufficient legislative support.
Even in North Carolina, lawmakers revised HB92 to ensure passage. The original draft set a 10% cap on potential crypto investments, which was later reduced to 5% to address concerns and strike a more measured tone as debate continues.
Quick Facts
- North Carolina’s House passed the Digital Assets Investment Act (HB92), authorizing crypto-related investments.
- The bill allows the State Treasurer to consider digital assets for retirement systems.
- HB92 also calls for a feasibility study on a state-run crypto reserve to manage seized digital assets.
- A separate bill, SB327, proposes allocating up to 10% of public funds into Bitcoin.
- States across the U.S. are pushing forward with crypto legislation, though not all proposals are gaining traction.
