Authorizes Illinois public agencies to invest up to 5% of public funds in Bitcoin-related assets.
The Local Government Digital Asset Investment Act allows public agencies in Illinois to invest up to 5% of their public funds in Bitcoin-related exchange-traded funds, digital asset stocks, and Bitcoin bonds. These investments aim to promote economic diversification and innovation in the digital economy. The act defines "Bitcoin-related exchange-traded fund" as an exchange-traded fund that invests in Bitcoin, "digital asset stock" as equity securities of a publicly traded company holding significant digital assets, and "Bitcoin bond" as a debt security with principal or interest payments.
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