North Carolina joins the growing list of US states attempting to pass comprehensive digital asset bills as a hedge against inflation.
North Carolina (NC) representative Neal Jackson introduced the North Carolina Digital Asset Freedom Act on April 10. The bill proposes that qualifying “digital assets” be accepted as a legally recognized form of payment and for taxes.
Although the language of the bill does not specifically mention Bitcoin (BTC), there are several provisions laid out that make BTC uniquely qualified under the bill’s definition of a “digital asset.”
These stipulations include a minimum market capitalization of $750 billion and a daily trading volume of over $10 billion, a market history of 10 years or more, proven censorship resistance, proof-of-work consensus, lack of a central authority, 99.98% or more network uptime, and a maximum supply cap. The bill read:
