North Carolina bill proposes allowing tax payments using crypto
North Carolina lawmakers have introduced a bill that seeks to allow the use of digital assets in tax payments and other economic transactions, marking the latest crypto-related legislative effort in the state.Representative Neal Jackson filed H.B. 920, the Digital Asset Freedom Act, on Thursday with two co-sponsors."Digital assets are recognized as a valid medium of exchange in North Carolina," the bill said. "A transaction shall not be denied legal effect or enforceability solely because it uses a digital asset."The Digital Asset Freedom Act outlines the criteria that digital assets must meet to be considered eligible. It requires a digital asset to have at least $750 billion in market capitalization and a daily trading volume of at least $10 billion to ensure liquidity and market depth. The bill added that an eligible digital asset should have at least a 10-year track record of operating in an open market, with proven security and resistance to censorship.It also emphasizes decentralization, requiring digital assets to have launched fairly, without pre-mining, insider allocations or central authority control, and to avoid reliance on a single entity or small group of insiders for operation and governance. The bill does not, however, mention any specific cryptocurrencies, including bitcoin.H.B. 920 adds to the wave of crypto-focused bills in North Carolina, as state interest in bitcoin rises under pro-crypto U.S. President Donald Trump's leadership.The introduction of the new bill follows two others — House Bill 506 and Senate Bill 709 — filed last month seeking to establish an investment authority with the power to invest up to 5% of various pension funds in cryptocurrencies.North Carolina lawmakers have also submitted two bills — House Bill 92 and Senate Bill 327 — proposing to authorize the State Treasurer to invest in bitcoin.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.