- NC bill H92 clears first hurdle to allow Bitcoin in state fund portfolios.
- S327 proposes a state Bitcoin reserve with secure storage and strict oversight.
- S667 drives statewide blockchain adoption and cybersecurity modernization by 2030.
North Carolina is moving forward with legislation that could make Bitcoin a recognized part of public finance strategy. Multiple crypto-related bills progressed through committee, targeting institutional investment, digital tax payment, and blockchain modernization.
H92 Clears First Committee as Bitcoin Investment Proposal Gains Momentum
H92, the NC Digital Assets Investments Act, passed its first committee hurdle this week. The bill would authorize the State Treasurer to allocate state-held funds into exchange-traded products backed by Bitcoin, Ethereum, and stablecoins. Bitcoin Laws stated in an update that the bill now heads to the Rules, Calendar, and Operations Committee.
Under H92, eligible public funds include the General Fund, Highway Fund, and state pension reserves. Digital asset exposure would be capped at 10% of any fund’s balance at allocation. All products must be SEC-compliant and listed on regulated U.S. platforms like NASDAQ or NYSE.
New Bills Target Bitcoin Reserve, Digital Tax Payments, and Crypto Custody
S327, titled the NC Bitcoin Reserve and Investment Act, proposes a state-managed Bitcoin reserve with up to 10% allocation from eligible public funds. According to a report by Bitcoin Laws, Bitcoin would be held in cold storage with multi-signature access and third-party insurance coverage to ensure custody security.
The reserve could only be used for infrastructure, bond support, or economic stimulus, with liquidation requiring two-thirds legislative approval. The bill also establishes an advisory board and mandates quarterly performance reporting. Purchases must be executed through regulated U.S. exchanges.
H920, the NC Digital Asset Freedom Act, would enable Bitcoin tax payments but enforce strict eligibility requirements. Only assets meeting five benchmarks—including proof-of-work, 10+ years of history, and $ 750 B+ market cap—qualify. The bill also introduces fraud refund rights and kiosk use restrictions for consumer protection.
Broader Infrastructure Reforms Include Blockchain and Investment Authority
The Government Modernization Act (S667) calls for IT upgrades, blockchain pilot programs, and statewide cybersecurity mandates. It introduces a State Cybersecurity Task Force, a new Office of Digital Transformation, and a multi-year digital overhaul funded through 2030. The bill prioritizes transparency, encryption, and digital service scalability.
H506 and S709, known collectively as the 2025 State Investment Modernization Act, create the NC Investment Authority (NCIA) to oversee fund management. The board-led agency would absorb some Treasurer powers while allowing up to 5% crypto exposure. It mandates asset audits, risk protocols, and monthly reporting standards.
