TechFlow News, March 31: According to Bitcoin Treasuries, Illinois State Senator Steve McClure introduced Senate Bill 3672—the “Local Government Digital Asset Investment Act”—which proposes amendments to the state’s Public Funds Investment Act to permit public entities to allocate up to 5% of their public funds to bitcoin-related financial products.
Under the bill, eligible “digital asset stocks” must be shares of publicly traded companies whose most recently audited financial statements verify that at least 25% of their total assets consist of bitcoin or other digital currencies. This threshold includes companies whose core strategy centers on bitcoin accumulation—such as Strategy, Twenty One Capital, Metaplanet, and Semler Scientific. The bill also permits public funds to invest in bitcoin ETFs and bitcoin bonds, subject to transparency requirements.
