Bill > SB465

This bill creates new investment opportunities for West Virginia's Board of Treasury Investments and state retirement funds by allowing investments in precious metals, digital assets, and stablecoins under specific conditions. The bill permits the Board of Treasury Investments to invest up to 10% of public funds in these assets, with strict guidelines for acquisition and management. Digital assets must be held either directly by the state treasurer through a secure custody solution, by a qualified custodian, or via an exchange-traded product. Stablecoins are limited to those with regulatory approval from the United States or individual states. The bill also allows for potential additional revenue streams through staking and lending digital assets, provided these activities do not increase financial risk. For state retirement funds, investments are permitted in exchange-traded products registered with the Securities and Exchange Commission, Commodity Futures Trading Commission, or State Securities Office. The state treasurer is authorized to propose rules for legislative approval to implement and manage these new investment strategies, ensuring transparency and regulatory compliance.

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http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=465&year=2025&sessiontype=RS&btype=bill