The proposed bill seeks to establish the Digital Assets Strategic Reserve Fund, which would be administered by the State Treasurer and consist of appropriated funds and seized digital assets. The bill introduces new provisions that require the State Treasurer to deposit seized digital assets using secure custody solutions or exchange-traded products from registered investment companies. It also limits the investment of Fund monies to no more than 10% in any fiscal year and allows the State Treasurer to loan digital assets from the Fund, provided that such loans do not increase financial risks to the state. Additionally, the bill defines "digital assets" to include various forms of virtual currencies and establishes criteria for secure custody solutions.

The bill amends existing statutes by adding specific definitions and requirements related to the management and security of digital assets. It clarifies the roles and responsibilities of the State Treasurer in administering the Fund and outlines the conditions under which digital assets can be loaned. The language of the current statute remains unchanged, while the new provisions and definitions are inserted to enhance the framework for managing digital assets within the state.

Statutes affected:
Introduced Version: 41-180
Senate Engrossed Version: 41-180
House Engrossed Version: 41-180