North Carolina bills would add crypto to state’s retirement system
North Carolina lawmakers have introduced legislation that could permit the state's retirement system to invest in cryptocurrencies. The Investment Modernization Act (House Bill 506), introduced by Representative Brenden Jones on March 24, 2025, proposes creating an independent investment authority within the state Treasury. This authority would have the discretion to allocate up to 5% of various state retirement funds into digital assets, including cryptocurrencies, stablecoins, non-fungible tokens (NFTs), or other electronic assets conferring economic or proprietary rights.
A companion bill, the State Investment Modernization Act (Senate Bill 709), was introduced in the Senate on March 25, 2025. Both bills aim to establish the North Carolina Investment Authority, tasked with evaluating the risk and reward profiles of potential digital asset investments and ensuring secure custody solutions.
Separately, the Bitcoin Reserve and Investment Act (Senate Bill 327), introduced on March 18, 2025, by Senators Todd Johnson, Brad Overcash, and Timothy Moffitt, seeks to authorize the State Treasurer to allocate up to 10% of public funds specifically into Bitcoin. This initiative aims to establish a strategic Bitcoin reserve for North Carolina as part of a long-term financial strategy.
These legislative efforts reflect North Carolina's consideration of integrating digital assets into its financial portfolio. However, the bills are in the early stages of the legislative process and have not yet become law. The proposals have sparked discussions regarding the potential benefits and risks of including cryptocurrencies in state-managed funds.
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