ChainCatcher report, according to Bitcoin Magazine, North Carolina has officially introduced Bill 327, the North Carolina Bitcoin Reserve and Investment Act. The bill, sponsored by Senators Johnson and Overcash, passed its first reading on March 19. The bill proposes to authorize the State Treasurer to allocate up to 10% of public funds to Bitcoin as part of the state’s long-term financial strategy. It also permits regulated income-generating activities such as staking and lending, requires Bitcoin to be stored in multi-signature cold wallets, establishes a dedicated state custody department, forms a Bitcoin Economic Advisory Committee to provide guidance, and mandates monthly audits.
North Carolina Bitcoin Reserve Bill Passes First Reading
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Summary
The North Carolina Bitcoin Reserve and Investment Act (Bill 327), introduced by Senators Johnson and Overcash, passed its first reading on March 19. The proposal allows the state treasurer to allocate up to 10% of public funds into Bitcoin as part of a long-term investment strategy. It includes staking and lending under regulated conditions, requires multi-signature cold storage, establishes a dedicated custodial team, forms a Bitcoin Economic Advisory Committee, and mandates monthly audits.
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