North Carolina proposes a bill to invest in Bitcoin, aiming to enhance financial strategy, promote blockchain adoption, and position the state as a digital leader.
North Carolina lawmakers have introduced a new bill that could allow the state to invest in Bitcoin. On Monday, Speaker of the House Destin Hall proposed the NC Digital Assets Investments Act. This bill intends to expand the state’s financial portfolio through investments in digital assets like Bitcoin. This bill has received support from Stephen Ross, Mark Brody, and Mike Schietzelt, who have sponsored the bill as well.
Hall shared his opinions about this proposal through his X account. He mentioned filing HB 92 will allow investment on digital assets by the treasure of the North Carolina state. While referring to the hope of Former President Trump to one day have a national Bitcoin reserve, Hall made it clear that this aligns with the steps taken towards achieving it. He further pointed out that the bill balances many aspects that control while ensuring technology innovation competitiveness for North Carolina.
Hall explained how more and more entities across the USA are adopting blockchain technology. He believes investing in Bitcoin, for example, would serve a financial purpose for the state and place North Carolina at the helm of the border of digital innovation. He commended his colleagues who previously worked to build on this legislation for the efforts they made in fostering new changes.
North Carolina Eyes Bitcoin as Part of Financial Strategy
Dan Spuller the Head of Industry Affairs at Blockchain Association alongside being co-chair at the North Carolina Blockchain Initiative, expressed his commendation towards the bill. He pointed out the state’s historical advancement in policy innovation regarding digital assets, including legislation intended to foster blockchain development. He mentioned the 2016 Money Transmitters Act, the 2021 Regulatory Sandbox Act, and last year’s HB 690 which banned Central Bank Digital Currencies.
Spuller also suggested that North Carolina enacted HB 92, the state’s leadership in financial and technological innovation would be consolidated further. He said that this bill is a clear sign that the state is prepared to be innovative and take strides towards advancement.
Supporters of the bill mentioned that if approved, North Carolina will be able to position itself as a powerhouse in the digital economy. The state would benefit from investment into Bitcoin as it would provide strategic financial advantages and promote the further use of blockchain. Legislators and industry professionals will closely scrutinize the bill’s potential ramifications on the state’s financial strategy as it progresses through consideration.
Source: https://www.livebitcoinnews.com/thai-and-chinese-police-arrest-two-fraud-suspects-freeze-2-5-million-in-crypto/