Bill Summary for H 92 (2025-2026)

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Summary date: 

Mar 5 2025

Bill Information:

View NCGA Bill Details(link is external)2025-2026 Session
House Bill 92 (Public) Filed Monday, February 10, 2025
AN ACT TO AUTHORIZE THE STATE TREASURER TO INVEST IN QUALIFYING DIGITAL ASSETS.
Intro. by Ross, Brody, Schietzelt, D. Hall.

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Bill summary

House committee substitute to the 1st edition makes the following changes. Removes defined terms private key and secure custody solution from GS 147-69.2E (investments in digital assets). Modifies the definition of exchange-trade product so that it includes a security covered under federal law that meets one of now three listed (was, four) requirements. Removes securities that are listed, or authorized for listing, on a national securities exchange or system, or on a tier or segment of the exchange or system, that has listing standards that the North Carolina Secretary of State, on its own initiative or on the basis of an application, determines by rule are substantially similar to the listing standards applicable to certain American security exchanges as an eligible exchange-traded product. Removes requirement that the State Treasurer only invest in digital assets with an average market capitalization over the preceding 12 months of at least $750 billion as determined by the Treasurer using a commercially reasonable method. Removes the requirement that the Treasurer use a secure custody solution if he chooses to internally manage any digital assets. Removes technical changes to GS 147-69.2(e). Makes other technical changes.