<ul><li>South Carolina's proposed bill, The 'Strategic Digital Assets Reserve Act,' allows the State Treasurer to invest 10% of state funds in digital assets, including bitcoin.</li><li>The establishment of the reserve aims to hedge against inflation and economic volatility, given bitcoin's unique properties as a decentralized digital asset.</li><li>The bill does not specify if state officials will hold the private keys, but allows the State Treasurer to develop security protocols and utilize third-party custody solutions.</li><li>The bill requires the State Treasurer to prepare biennial reports, publish proof of reserves, and undergo annual independent audits to ensure compliance and security.</li></ul>

Proposed South Carolina Bill Lets State Treasurer Invest 10% Of State Funds In Bitcoin

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