US West Virginia lawmakers propose to allow state finance to invest up to 10% of their funds in digital assets or precious metals

PANews February 15th news, Senator Chris Rose of West Virginia submitted a bill that proposed allowing the state fiscal investment committee to invest up to 10% of its funds in digital assets or precious metals to hedge inflation risks. Among them, digital assets refer to virtual currencies, cryptocurrencies, native electronic assets, including stablecoins and NFTs, as well as other pure digital assets that give economy, ownership or access or power.

If it exceeds 10%, it is not necessary to sell the assets it holds, but no further purchases shall be made until it is below 10%. The state finances can invest in digital assets with a market value of more than $750 billion, and currently only Bitcoin meets the standards. Assets can be held on-chain or invested through ETFs.