Bill > H920

This bill establishes the North Carolina Digital Asset Freedom Act, which creates a comprehensive framework for recognizing and regulating digital assets in the state. The legislation defines specific criteria for digital assets to be considered valid, including requirements for decentralization, security, market longevity, regulatory clarity, and network resilience. These assets must have operated for at least 10 years, have a market capitalization over $750 billion, and meet strict technical and governance standards. The bill recognizes digital assets as a legitimate medium of exchange, allowing their use in economic transactions and tax payments, and provides privacy protections for users. Additionally, the bill introduces consumer protections for new virtual currency customers, such as imposing a $2,000 daily transaction limit for first-time users and mandating full refunds for fraudulent transactions reported within 14 days. The law requires digital asset transactions to be reported with their U.S. dollar equivalent, and the Department of Revenue will maintain daily exchange rates. Most provisions of the bill will become effective January 1, 2026, with some sections taking effect immediately upon becoming law, reflecting North Carolina's commitment to fostering innovation and providing a regulated environment for digital asset use.

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https://www.ncleg.gov/BillLookUp/2025/H920