North Carolina Bitcoin Reserve Bill SB327: Allocating 10% of Public Funds to Bitcoin

According to COINOTAG News on March 19th, North Carolina has taken a significant step towards integrating digital assets into its financial framework. The recently introduced Bitcoin Reserve Bill, known as SB327, empowers the State Treasurer to allocate up to 10% of public funds directly into Bitcoin. This legislation aims to provide a structured approach to cryptocurrency management, incorporating elements such as multi-signature cold storage for asset custody and monthly audits to ensure reserve transparency. Furthermore, the stipulations state that Bitcoin holdings can only be liquidated under stringent conditions, specifically during a declared “severe financial crisis.” With approximately $9.5 billion currently managed in its General Fund, North Carolina’s pivot towards cryptocurrencies may pave the way for other states to explore similar strategies, marking a critical evolution in the governance of public finances.