South Carolina H4256 establishes a Strategic Digital Assets Reserve to invest in digital assets like Bitcoin, ensuring secure storage and regular.
The Strategic Digital Assets Reserve Act of South Carolina allows the State Treasurer to invest in digital assets, including Bitcoin, from unexpended funds. The total digital asset holdings must not exceed three percent of the state's investment portfolio. The State Treasurer must develop policies for secure storage and protection of these assets, which can be held directly, by a qualified custodian, or as exchange-traded products. Regular independent testing and audits are required to ensure compliance with standards and best practices.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.