(The Center Square) – Called “crypto-friendly legislation” by the leader of the chamber, a proposal on digital assets on Wednesday afternoon passed the North Carolina House of Representatives.
Passage was 71-44 mostly along party lines.
The NC Digital Assets Investments Act, known also as House Bill 92, has investment requirements, caps and management, and clear definitions and standards aimed at making sure only qualified digital assets are included. House Speaker Destin Hall, R-Caldwell, said the state would potentially join more than a dozen others with “crypto-friendly legislation.”
With him in sponsorship are Reps. Stephen Ross, R-Alamance, Mark Brody, R-Union, and Mike Schietzelt, R-Wake.
Nationally last year, the Financial Innovation and Technology for the 21st Century Act – known as FIT21 – passed through the U.S. House in May and in September was parked in the Senate’s Committee on Banking, Housing and Urban Affairs.
Dan Spuller, cochairman of the North Carolina Blockchain Initiative, said the state has proven a leader on digital asset policy. That includes the Money Transmitters Act of 2016, the North Carolina Regulatory Sandbox Act of 2021, and last year’s No Centrl Bank Digital Currency Pmts to State. The latter was strongly opposed by Gov. Roy Cooper, so much so that passage votes of 109-4 in the House and 39-5 in the Senate slipped back to override votes, respectively, of 73-41 and 27-17.
