North Carolina lawmakers have proposed bills to allow state retirement funds to invest in cryptocurrencies, aiming to expand investment options and boost the crypto market.
Bills called the Investment Modernization Act and the State Investment Modernization Act have been introduced to establish an independent investment authority within the state Treasury to assess which digital assets could be integrated into state retirement funds.
If approved, the authority could allocate up to 5% of various state pension funds into digital assets, including cryptocurrencies, stablecoins, and non-fungible tokens (NFTs).
North Carolina is part of a growing wave of states considering cryptocurrency adoption, with 41 Bitcoin reserve bills introduced across 23 states.