The North Carolina House and Senate introduced two bills allowing up to 5% of retirement funds to be allocated to cryptocurrencies. The Investment Modernization Act, House Bill 506, aims to create an independent authority to assess suitable digital assets for state retirement funds.

The bills classify digital assets broadly to include cryptocurrencies, stablecoins, and NFTs, without imposing market cap limits. This approach stands out from other legislation currently under consideration in various states.

Earlier, the Bitcoin Reserve and Investment Act, Senate Bill 327, proposed that up to 10% of public funds be directly allocated to Bitcoin, stored securely with conditions for liquidation only under severe financial crisis.