North Carolina Bitcoin Reserve Bill Passes First Reading

Bitcoin Magazine reported on March 20 that North Carolina has officially introduced Bill 327, the "North Carolina Bitcoin Reserve and Investment Act." The bill, sponsored by Senators Johnson and Overcash, passed its first reading on March 19. The bill proposes to authorize the State Treasurer to allocate up to 10% of public funds to Bitcoin as part of the state's long-term financial strategy. The bill also permits regulated yield-generating activities such as staking and lending, and requires Bitcoin to be stored in multi-signature cold wallets, establish a dedicated custodial department within the state, form a Bitcoin Economic Advisory Board to provide guidance, and conduct monthly audits.