The North Carolina Bitcoin Reserve Act will authorize 10% of public funds to be used for purchasing Bitcoin
According to ChainCatcher news and Bitcoin Laws, the North Carolina Bitcoin Reserve Act SB327 authorizes the state treasurer to allocate up to 10% of public funds to Bitcoin. The custody is managed through multi-signature cold storage, reserves are audited monthly, and sales are only permitted under "severe financial crisis" with strict conditions. North Carolina currently has $9.5 billion in its general fund.
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