The bill amends South Dakota law to allow the state to invest in Bitcoin, expanding the types of investments permitted for state public moneys. Specifically, it modifies Section 4-5-26 to replace the term "funds" with "moneys" and adds Bitcoin as a new investment option, provided it meets certain requirements outlined in the bill. The State Investment Council is authorized to allocate up to ten percent of state moneys for Bitcoin investments, which must be held directly by the Council, through a qualified custodian, or in the form of an exchange-traded product issued by a registered investment company.

Additionally, the bill establishes definitions for key terms related to Bitcoin and digital assets, including "secure custody solution," which outlines the necessary security measures for holding Bitcoin. These measures include exclusive control of the private key by the State Investment Council, secure storage in encrypted environments, and multi-party governance for transaction authorization. The bill aims to ensure that any Bitcoin investments are managed securely and in compliance with regulatory standards.

Statutes affected:
Introduced, 01/27/2026: 4-5-26