The NC House Commerce and Economic Development Committee that the state’s proposed crypto bill (HB92) was sent to had a meeting on the bill the past two days.

4 committee members spoke up with issues against the bill which is simply ALLOWING the state to invest up to 10% of each pension fund into the ETFs. Here are the critiques:

Rep. Cohn stated he has invested in “crypto” for about 5 years now and noted its volatility and doesn’t believe it’s safe enough for the state to invest in. (He trusts his ability to manage volatility with position size but not the states ability to do the same I guess)

Reps Blust and Howard both stated they don’t know enough about bitcoin. Blust specifically stated he heard that it halved recently but didn’t know what that meant and said he also heard there’s more being created at all times which concerned him (we’re still so early)

Rep. Cunningham said she was against the bill because eggs are expensive and we need to be focused on that not crypto (…….)

Temper your expectations