- NC House Passes HB92 Digital Assets and Custody Reserve Bill
- It has cleared the third reading, proposing treasury allocations of up to 5% into digital assets
- It includes a study on incorporating digital assets into the state’s pension plans
- It proposes the creation of a dedicated digital asset reserve for seized cryptoassets
- Investments would require independent assessment and compliance with secure custody standards
NC House passes HB92 Digital Assets and Custody Reserve Bill as it clears third reading, proposing treasury allocations of up to 5% into digital assets, subject to prior independent evaluation and adherence to institutional custody requirements.
Is North Carolina Preparing for Crypto Investments and a State-Managed Digital Asset Reserve?
House Bill 92, the “NC Digital Assets Investments Act,” which has passed its third reading in the North Carolina House of Representatives, outlines three main initiatives: investments, pension-related exploration, and the creation of a state-managed digital asset reserve.
First of all, HB92 authorizes the North Carolina State Treasurer to invest up to 5% of the assets from certain public funds in digital assets, which includes not only Bitcoin but also other major cryptocurrencies, stablecoins, tokens, NFTs, and assets that exist exclusively in digital form.
However, the bill notes that this must comply with specific conditions, and the confirmation must be carried out by an independent third party:
- the assets must be held using secure custody solutions
- the investments must align with the fund’s overall strategy
- the control system must meet institutional standards for risk management and regulatory compliance
Another important component — which, by the way, doesn’t always accompany Bitcoin- or crypto-reserve discussions in other states — is pension investment. Specifically, the bill does not mandate it but calls for a study on whether state employees could be offered the option to invest part of their funds from the Supplemental Retirement Income Plan and the 457(b) Deferred Compensation Plan into digital assets through approved investment products. This also includes:
- identifying suitable investment instruments
- defining potential allocation limits
- providing educational materials on the risks and nature of digital assets
The third component is an initiative to study the possible creation of the North Carolina State-Managed Digital Asset Reserve — a special reserve for confiscated and seized digital assets. The study is to be conducted jointly by the State Bureau of Investigation (SBI), the State Treasurer, and law enforcement agencies. A report is expected by March 1, 2026, and will include:
- the optimal structure for asset management
- custody mechanisms
- and procedures for liquidation in ways that benefit the state budget and educational institutions
Conclusion
This is yet another step in the broader crypto movement toward state-managed digital asset reserves — and states like Arizona, Florida, and others are also doing great. However, the NC Digital Assets Investments Act is notably more expansive than some other state-level proposals and may serve as a reference point for others. We’ll be watching closely.
