North Carolina lawmakers have submitted two new bills proposing the establishment of an investment management agency to allocate 5% of pension funds to cryptocurrency

ChainCatcher news, according to The Block, North Carolina lawmakers have 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 Board" to manage the investments.

The introduction of these two new bills follows House Bill 92 (submitted on February 10) and Senate Bill 327 (submitted on March 18), both of which aim to authorize the state treasurer to invest in Bitcoin.