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North Carolina lawmakers have taken a significant step towards integrating digital assets into the state’s economic framework with the introduction of the Digital Asset Freedom Act. Filed by Representative Neal Jackson H.B. 920 aims to recognize digital assets as a legitimate medium for tax payments and other transactions. The bill asserts that transactions utilizing digital assets should not be denied legal status based solely on their digital nature.
The proposed legislation sets strict criteria for digital assets to ensure stability and security. To be eligible digital assets must possess a minimum market capitalization of $750 billion and a daily trading volume above $10 billion along with a minimum ten-year track record of operation in an open market. These requirements aim to guarantee liquidity market depth and a robust resistance to censorship.
By endorsing the Digital Asset Freedom Act North Carolina aligns with the growing national interest in cryptocurrencies under the leadership of the pro-crypto President Donald Trump. This move adds to a series of crypto-focused legislative efforts in the state reflecting a strong push towards adopting and normalizing the use of cryptocurrencies in various state-level financial operations.
