The North Carolina House of Representatives has passed a bill allowing the state’s treasurer to invest public funds in approved cryptocurrencies. The legislation, introduced by Republican Speaker Destin Hall, permits up to 5% of state investments to be allocated to digital assets, subject to independent third-party evaluations for safety and compliance. Additionally, the bill explores the potential for retirement and deferred compensation plan members to invest in digital assets through exchange-traded products (ETPs). The legislation also establishes the North Carolina Investment Management Authority (NCIA) to assume responsibility for state investments, replacing the existing treasurer.