North Carolina proposes to allow pension funds to invest in cryptocurrency, with a maximum proportion of 5%

North Carolina lawmakers have submitted two bills to the House and Senate, proposing to allow a portion of pension funds to be invested in crypto assets, up to a maximum of 5%. Representative Brenden Jones introduced the "State Investment Modernization Act" (HB 506), while the Senate submitted a similar SB 709 bill. These bills aim to establish independent "investment institutions" responsible for managing various fund investments, including state retirement funds.

The bill stipulates that investment institutions can invest funds in digital assets such as cryptocurrencies, stablecoins, and NFTs, and must adopt secure custody solutions while assessing asset risks and returns. Previously, North Carolina had submitted related bills authorizing state finance officials to invest in Bitcoin. Crypto assets are becoming an investment direction of concern for lawmakers across the United States.

Earlier news reported that North Carolina's Bitcoin Reserve Bill proposed authorizing 10% of public funds for purchasing Bitcoin.