This bill, presented by Representative Neal Jackson, would recognize certain digital assets as a legally accepted form of payment.
The digital asset freedom act would also allow digital assets to be used as a valid method for paying taxes. The move reflects the growing trend of U.S. states exploring ways to hedge against inflation by giving digital assets a legal foothold.
Digital Asset Freedom Act: Tailored for Bitcoin’s Role in Economic Stability
The bill doesn’t directly mention Bitcoin, but its provisions seem tailored to include the leading cryptocurrency. To qualify as a “digital asset” under the bill, the asset must meet a series of criteria: a market capitalization of at least $750 billion, daily trading volumes exceeding $10 billion, a history of 10 years or more, and several other characteristics that align with Bitcoin’s attributes.
This act emphasizes the importance of decentralized assets that are “not governed by any central entity or foundation”. It goes on to argue that these types of assets adhere to the principles of limited, non-inflationary money. It aligns with a more sustainable economic future. The bill’s text underscores Bitcoin’s potential to ensure the “security and integrity of transactions”. This is while resisting government control—a key tenet of many cryptocurrency advocates.
North Carolina lawmakers introduce the Digital Asset Freedom Act.
The bill would recognize #Bitcoin as money, allow residents to pay taxes in it, and establish new consumer privacy protections. pic.twitter.com/TjxwfMZqYq
— TFTC (@TFTC21) April 10, 2025
This bill follows a growing movement across U.S. states. Lawmakers are beginning to see digital assets, particularly Bitcoin, as a “safe bet” amid inflation and economic uncertainty. With the U.S. facing high federal debt and a depreciating currency, more states are looking to build Bitcoin strategic reserves. This move is seen as a way to protect their economies from the volatile traditional financial system.
More About Bitcoin and Other US States
Florida’s Bitcoin Reserve Bill has just cleared a significant hurdle. The Insurance and Banking Committee unanimously approved HB 487, which paves the way for the state to invest public funds in Bitcoin.
Florida’s Bitcoin Reserve Bill just cleared a major hurdle.
The Insurance and Banking Committee unanimously passed HB 487, which authorizes the state to invest public funds in #Bitcoin. pic.twitter.com/HXR4H0hLfF
— TFTC (@TFTC21) April 10, 2025
This move marks a major step forward in Florida’s push to incorporate digital assets into its financial strategy. If the bill continues to progress, Florida could become one of the first states to officially back Bitcoin with state funds, potentially setting a precedent for other states to follow suit.
Disclaimer
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