Technology

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.