Bill To Study On Holding Bitcoin Gets Approval
North Carolina’s Department of State Treasurer is set to study the feasibility and benefits of holding Bitcoin. The bill, passed by the lower house of the General Assembly, would commission a $50,000 study to examine the acquisition, storage, insurance, and liquidation of gold and virtual currency like Bitcoin. The study aims to investigate the impact of holding part of North Carolina’s funds in these currencies on inflation, systemic credit risks, and volatility, ultimately increasing the state’s portfolio returns.
North Carolina’s House has passed a bill to create a state-administered depository for crypto, allowing the state to maintain its digital asset holdings. The study will examine the costs and benefits of using a privately managed depository or another state’s depository. The bill must pass the Senate before being signed into law or vetoed by Governor Roy Cooper. Additionally, North Carolina’s House has passed a bill prohibiting payments using central bank digital currencies (CBDC) and requiring the US Federal Reserve to test any future pilot CBDC.
(With inputs from Shikha Singh)
You need to login in order to Like
