North Carolina proposes bill to include crypto assets in state pension system

Rep. Brenden Jones has proposed creating an independent investment agency under the state Treasury Department that would be empowered to determine which digital assets can be included in pension funds.
The Department of Energy filed a bill called the Investment Modernization Act (House Bill 506) in the state House of Representatives on the 24th, and an identical bill called the Investment Modernization Act (Senate Bill 709) in the state Senate on the 25th.
Under the bill, digital assets include cryptocurrencies, stablecoins, NFTs, and other assets of an electronic nature that confer economic, ownership, or access rights.
However, the bill, unlike some cryptocurrency bills being pushed in other states, does not set a separate market capitalization threshold for digital assets.
The newly formed North Carolina investment institution will carefully evaluate the risk and reward factors of each digital asset and safeguard funds through a secure custody solution.
According to cryptocurrency law tracker Bitcoin Laws, "Bill 506 is a 'Bitcoin Reserve Act' in that it does not mandate long-term holding of certain cryptocurrencies."
On March 18, North Carolina state senators introduced the Bitcoin Reserve and Investment Act (House Bill 327).
It includes a plan to invest up to 10% of the fund directly in Bitcoin.