North Carolina lawmakers are pushing for the inclusion of cryptocurrency in state retirement funds. The Investment Modernization Act (House Bill 506) introduced by Representative Brenden Jones on March 24 seeks to allocate up to 5% of state retirement funds into digital assets like Bitcoin. The bill proposes creating an independent authority under the state’s Treasury to determine which assets are suitable for investment.

A similar bill was introduced in the state Senate on March 25, named the State Investment Modernization Act (Senate Bill 709). These bills define digital assets as cryptocurrencies, stablecoins, NFTs, or any electronic asset that offers economic or proprietary rights. The North Carolina Investment Authority would assess risks and ensure the assets are stored securely.

This move aligns with growing interest in Bitcoin, as Senate Bill 327, introduced on March 18, calls for investing up to 10% of public funds into Bitcoin. North Carolina joins other states embracing cryptocurrencies as part of their economic growth strategy.