Up to 10% of Treasury assets allowed
);)
West Virginia State Senator Chris Rose announced on the 15th that he had introduced legislation in the state legislature that would allow the state treasury to invest up to 10% of its assets in precious metals, certain cryptocurrencies, and stablecoins. The bill, titled the "Inflation Protection Act," was submitted.
According to the bill, digital assets eligible for investment must have a market capitalization exceeding $750 billion (KRW 1,105 trillion) as of the previous year. As of January, Bitcoin was the only cryptocurrency meeting this requirement.
Representative Rose explained that if the bill passes, the state treasury could have limited exposure to Bitcoin to hedge against inflation. He stated that the legislative intent is to diversify financial assets and preserve long-term value.
The bill requires all cryptocurrencies acquired by state treasuries to be held by qualified custodians through exchange-traded products or secure self-custody structures. Eligible stablecoins must be assets that have received regulatory approval from the U.S. federal government or individual state governments.
In the United States, legislative efforts to authorize state-level cryptocurrency ownership have been ongoing in recent years. While similar bills have been proposed in numerous states since 2025, only three states—Texas, Arizona, and New Hampshire—have passed such legislation to date.
The West Virginia bill's chances of passage remain uncertain. It is currently referred to the state Assembly's Banking and Insurance Committee.
This legislation comes as the US Senate postponed the markup of the CLARITY Act, a cryptocurrency market structure bill. The federal bill faces mixed reviews from the industry regarding its provisions for decentralized finance, stablecoin rewards, and digital asset oversight.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
