Bill > HB4510

This bill amends the Public Employee Retirement System Investment Act to allow the state treasurer, when acting as an investment fiduciary, to invest retirement funds in cryptocurrency under specific conditions. Specifically, the bill permits investment in cryptocurrencies with a market capitalization of at least $250 billion, averaged over the previous calendar year. Any digital assets must be held through an exchange-traded product issued by a registered investment company. The bill defines cryptocurrency as a digital currency that uses encryption techniques to regulate currency generation and fund transfers, and operates independently of a central bank. This provision provides a carefully defined pathway for public retirement systems to potentially invest in large-scale cryptocurrencies, offering a new asset class for investment while establishing strict parameters to minimize risk.