South Carolina proposes new bill authorizing up to 1 million Bitcoin investment

South Carolina has proposed a bill to allow state investments in Bitcoin and other digital assets with a cap of one million Bitcoins.
The proposed legislation mandates secure custody, transparency, and regular audits of digital asset holdings.

South Carolina lawmakers on Thursday introduced the “Strategic Digital Assets Reserve Act,” a bill that would allow the state treasurer to invest in Bitcoin and other digital assets up to specific limits.

The bill, also known as H4256, permits the state treasurer to invest unexpended funds from the General Fund, Budget Stabilization Reserve Fund, and other state-managed investment funds in digital assets.

Investment would be capped at 10% of total funds under management, with a maximum Bitcoin reserve limit of one million Bitcoins.