A BILL for an Act to create and enact a new section to chapter 15-01, a new section to chapter 21-10, and a new section to chapter 54-11 of the North Dakota Century Code, relating to digital asset and precious metal investments.

HB 1184 would allow North Dakota's Board of University and School Lands, State Investment Board, and State Treasurer to invest up to 10% of their managed funds in specific digital assets (like stablecoins or cryptocurrencies with a $500 billion+ average market cap) or precious metals (gold, platinum, or silver). The bill requires all digital asset investments to be held securely through approved custodians or exchange-traded products, with strict rules for staking or lending digital assets to avoid increasing state financial risk. It defines key terms like "stablecoin" (dollar-backed digital currency) and "secure custody solution" (requiring multi-location hardware storage and regular security audits). The policy directly affects how state investment entities manage public funds, but the bill failed to pass in January 2025 after committee review.