North Carolina Passes Bill to Examine Impact of Holding Bitcoin

Coinscreed
Coinscreed

29 Jun 2023 9:15 AM

A bill mandating the North Carolina Department of State Treasurer to investigate the viability and benefits of the state holding...

  • The North Carolina House of Representatives has passed a bill mandating a study on the viability and benefits of the state holding Bitcoin and gold bullion.
  • The study would examine the effects of investing in gold and cryptocurrencies on hedging against inflation and systemic credit risks, as well as reducing volatility and increasing portfolio returns.
  • The bill also considers the establishment of a state-run cryptocurrency depository, with North Carolina as its custodian.
  • The bill was approved by 73 members of the House, with 40 opposed and seven not voting.
  • It still needs to pass the Senate and be signed into law or vetoed by Governor Roy Cooper.

The sentiment of the article is generally positive, as it highlights the approval of a bill that would investigate the potential benefits of North Carolina holding Bitcoin and gold bullion. However, the final outcome of the bill is still uncertain.

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You May Ask

What is the purpose of the bill passed by the North Carolina House of Representatives?What would the study mandated by the bill examine?What is the proposed establishment in the bill regarding cryptocurrency?How did the members of the House vote on the bill?What are the next steps for the bill to become law?

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