North Carolina lawmakers have introduced two bills in the House and Senate that could allow the state treasurer to allocate as much as 5 percent of various state retirement funds to cryptocurrencies such as bitcoin. House Bill 506, introduced by Rep. Brenden Jones on March 24, would create an independent investment agency under the state Treasury to determine which digital assets are suitable for inclusion in state retirement funds. On March 25, the state Senate introduced an identical bill, the State Investment Modernization Act (Senate Bill 709). The two bills define digital assets as cryptocurrencies, stablecoins, non-convertible tokens (NFTs), or any other asset that is electronic in nature and confers economic, ownership, or usage rights. North Carolina's bill does not set market cap standards for digital assets, unlike other cryptocurrency bills that are being legislated at the state level.