Lawmakers have introduced two bills—House Bill 506, filed by Representative Brenden Jones, and Senate Bill 709—to allow an independent Investment Authority to allocate up to 5% of certain pension funds to digital assets, including cryptocurrencies, stablecoins, and NFTs.
The bills emphasize secure custody solutions and risk assessments to safeguard investments.
By introducing the bills in both chambers, lawmakers aim to increase the likelihood of passage.
This move follows a growing trend across U.S. states, with Indiana, Kansas, and Florida proposing similar legislation, primarily targeting Bitcoin ETFs.
Internationally, Australian and Norwegian pension funds have also expanded their exposure to crypto investments, signaling a broader shift in institutional interest.
