North Carolina Passes Bill To Integrate Bitcoin Into $127 Billion Pension Fund
The North Carolina House has recently approved two significant bills that aim to transform the management of the state’s pension fund, allowing for a modernized investment strategy that includes cryptocurrencies like Bitcoin (BTC). This legislative move comes in response to a $16 billion deficit in the pension system and a need for improved investment returns compared to other states. NC’s Investment Authority Could Allocate 5% Of Portfolio To Bitcoin House Bill 506 proposes the establishment of a five-member board, the North Carolina Investment Authority, which will oversee....
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Lawmakers in North Carolina appear to now be advancing legislation that could allow the state to allocate a portion of its public retirement funds into digital assets, including cryptocurrencies like Bitcoin. Two identical bills, House Bill 506 and Senate Bill 709, introduced on March 24 and March 25 respectively, propose the creation of a new […]
A legislative bill that would cover bitcoin and digital currency related business activities has advanced in the North Carolina Senate. According to the The Associated Press, the Senate Commerce Committee gave its stamp of approval to SB 680, which was originally filed in March. The bill passed in the North Carolina House of Representatives by a wide majority of 117-1 in May. As noted by a spokesperson for the North Carolina's Commissioner of Banks at the time, the bill - which amends the state's Money Transmitters Act - covers any activity "involving a personal, family or household....
The North Carolina Senate Commerce Committee has agreed to support a House Bill drafted by North Carolina's banking commissioner regarding money transmission. The bill, titled "AN ACT TO ENACT THE NORTH CAROLINA MONEY TRANSMITTERS ACT AS 3 REQUESTED BY THE OFFICE OF THE NORTH CAROLINA COMMISSIONER OF 4 BANKS," states that money transmission includes maintaining control of virtual currency on behalf of others, and that the "online-only money" [bitcoin] is converted to cash using digital currency exchanges and the holder keeps it stored online. The bill passed the House back in May and is in....
Following a majority vote of the North Carolina Senate, the General Assembly of the state has now approved the amendment of a statutory article – the North Carolina Money Transmitters Act. The move will see the term “virtual currency” added to the existing law. Bitcoin exchanges and other industry companies in North Carolina will now be mandated to obtain a money transmitter license following a vote by members of the North Carolina Senate. In May 2016, North Carolina state’s House of Representatives overwhelmingly voted in a 117-to-1 vote, seeking the update before the recent approval from....
North Carolina is making a significant stride toward the integration of Bitcoin into its financial strategy. A recently introduced bill aims to enable the state treasurer to allocate a portion of public funds to digital assets, with a particular emphasis on BTC exchange-traded products (ETPs). North Carolina has become the 20th state in the United […]