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Committee approves amendment letting treasurer consider limited digital-asset exposure, sets high market-cap threshold
Summary
The Commerce committee voted to advance a bill that would add certain high-quality digital assets and precious metals to the state treasurer's list of approved investments, subject to caps and a market-cap threshold. Supporters described it as an optional tool; critics questioned volatility and oversight.
The House Commerce and Consumer Affairs Committee voted to advance an amended version of House Bill 302 that would allow the state treasurer to consider adding specified high-quality digital assets and precious metals to the treasury's approved investment list.
Under the amendment adopted in committee, the authority is optional for the treasurer and would be limited to a small percentage of the portfolio. The amendment lowered a previously discussed cap to a maximum of 5 percent of eligible funds and added a strict qualification for what counts as a "qualified digital asset": an annual market…
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