PANews reported on March 20th that, according to Bitcoin Magazine, North Carolina has formally introduced Bill 327, the "North Carolina Bitcoin Reserve and Investment Act." The bill, sponsored by Senators Johnson and Overcash, passed its first reading on March 19th.

The bill proposes authorizing the state treasurer to allocate up to 10% of public funds to Bitcoin as part of the state's long-term financial strategy. It also allows for regulated yield-generating activities such as staking and lending, requires Bitcoin to be stored in multi-signature cold wallets, establishes a dedicated state custody agency, and sets up a Bitcoin economic advisory committee to provide guidance and conduct monthly audits.