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SC H4256
Bill
Status
Introduced
3/27/2025
Primary Sponsor
Jordan Pace
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AI Summary
- Authorizes the State Treasurer to invest up to 10% of unexpended funds from the General Fund, Budget Stabilization Reserve Fund, or other investment funds into digital assets including Bitcoin
- Caps total digital asset holdings at 3% of the state's investment portfolio, with Bitcoin holdings limited to a maximum of 1 million Bitcoins
- Requires digital assets to be held through secure custody solutions, qualified custodians, or exchange-traded products, and prohibits lending of digital assets
- Mandates biennial reporting on reserve holdings and transactions, publication of public wallet addresses for transparency, and annual independent audits of security and compliance
- Allows South Carolina residents to donate digital assets to the reserve and expires September 1, 2035
Legislative Description
Strategic Digital Assets Reserve Act
Last Action
Referred to Committee on Ways and Means
3/27/2025
Committee Referrals
Ways and Means3/27/2025
Full Bill Text
No bill text available