The bill introduced by North Carolina Representative Neil Jackson could change the approach to tax payments in the state by allowing the use of cryptocurrencies. The initiative, known as the “Digital Asset Freedom Act,” aims to enable economic transactions, including tax payments, using digital assets.
This is reported by Finway
The HB 920 bill was introduced on April 10, 2025, with the support of two co-sponsors and aims to establish specific criteria for cryptocurrencies that can be accepted for such transactions. Among the requirements are:
- a market capitalization of the asset of at least $750 billion;
- a daily trading volume of no less than $10 billion;
- a minimum of 10 years on the open market;
- proof of security, decentralization, and resistance to censorship;
- no pre-mining or insider allocations.
“Digital assets are recognized as a legitimate medium of exchange in North Carolina. No transaction can be deemed invalid solely because it is conducted using a digital asset,” states the text of the bill.
This bill does not specify particular cryptocurrencies, such as Bitcoin, but is a continuation of a series of initiatives aimed at supporting the digital asset industry that have gained momentum amid the policies of former U.S. President Donald Trump. In North Carolina, there are also bills already registered that propose:
- the creation of an investment fund that would invest up to 5% of pension reserves in cryptocurrencies;
- the possibility for the state treasurer to invest in Bitcoin.
Additionally, in New York, there are proposals to allow state agencies to accept cryptocurrencies for the payment of fines and taxes.