According to The Block, Mars Financial News reported that legislators in North Carolina submitted two bills to the House and Senate, seeking to allocate 5% of certain pension fund balances to crypto assets, namely "House Bill 506" and "Senate Bill 709". Both HB 506 and SB 709 aim to establish an independent "Investment Management Agency" to manage investments. These two new bills follow House Bill 92 (submitted on February 10) and Senate Bill 327 (submitted on March 18), which both sought to authorize the state treasurer to invest in Bitcoin.
North Carolina lawmakers in the United States have submitted two new bills proposing the establishment of a new investment management bureau to allocate 5% of pension funds to crypto funds
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