It is joined by Arizona .. North Carolina is a law to invest in digital currencies

North Carolina has taken a wide step towards investing in digital currencies after the approval of the “Investing in Digital Assets” bill, which allows the public treasury to allocate up to 5% of investment funds for the approved digital assets.

This decision came after a vote of 71 against 44 rejected, which reflects an increasing interest in legislators to support modern financial technology and enhance the investment diversity of the state.

Organizing state investments

The law aims to regulate state investments in digital currencies while ensuring compliance with financial laws, as it requires strict procedures for preserving assets and ensuring the integrity of investment operations, and to avoid the risks associated with the purchase of digital currencies directly, the law states that investments will be carried out through organized financial funds such as Bitcoin joint funds, instead of buying the digital currencies themselves.

The HB506 Government Investment Law was also passed, a accompanying bill that supports the expansion of public investment options, indicating a major shift in state policies towards adopting digital assets as part of its investment strategies.

You join Arizona

With this decision, North Carolina becomes the second American state heading towards investing in digital currencies after Arizona, which has already passed similar laws.

These developments come at a time when global interest in digital currencies is increasing, as some analysts, such as Arthur Hayes, expect the high value of Bitcoin during the coming period, which may make these investments more attractive to states looking for financial growth opportunities.

With these new legislation, North Carolina appears to be seeking to enhance its position as a leading state in institutional investment of digital currencies, a transformation that may have a major impact on the future of government investment policies in the United States.