Bitcoin Proposed as South Carolina Reserve

South Carolina Considers Bitcoin for State Reserves

• House Bill 4256 proposes allowing South Carolina to invest up to 10% of certain public funds in digital assets, starting with Bitcoin.
• The bill sets a maximum cap of one million BTC for the state’s strategic reserve.
• Regular public audits and a secure custody framework are mandated by the bill.
• The legislation allows for voluntary Bitcoin donations from residents.
• The bill is set to expire on September 1, 2035, unless renewed.

South Carolina’s proposed legislation aims to incorporate Bitcoin into its financial strategy by allowing up to one million BTC in state reserves, subject to regular audits and secure custody measures.