Bitcoin Investment Bill Proposed in South Carolina

South Carolina Proposes Strategic Digital Assets Reserve Act

• South Carolina introduced the “Strategic Digital Assets Reserve Act” (H4256) to invest in Bitcoin and digital assets.
• The bill allows up to 10% of state-managed funds, with a cap of one million Bitcoins.
• Digital assets must be securely held by the state treasurer or qualified custodians, with no lending permitted.
• The legislation mandates biennial reporting and public transparency of digital asset holdings.
• If enacted, the law will remain effective until September 1, 2035.

The proposed H4256 bill enables South Carolina to invest in Bitcoin and other digital assets, capping investments at one million Bitcoins and requiring secure custody and transparency measures.