PANews reported on February 15 that U.S. West Virginia Senator Chris Rose submitted a bill proposing to allow the state fiscal investment committee to invest up to 10% of its funds in digital assets or precious metals to hedge against inflation risks. Digital assets refer to virtual currencies, cryptocurrencies, native electronic assets, including stablecoins and NFTs, and other purely digital assets that grant economic, ownership, or access rights or powers.
If it exceeds 10%, it does not have to sell its holdings, but it cannot make further purchases until it falls below 10%. State finances can invest in digital assets with a market value of more than $750 billion, and currently only Bitcoin meets the criteria. Assets can be held on-chain or invested through ETFs.
