Overview
- Senate Bill 143, introduced by Sen. Chris Rose as the Inflation Protection Act of 2026, would authorize the Board of Treasury Investments to allocate up to 10% of funds to precious metals, qualifying digital assets and regulated stablecoins.
- Eligibility is defined by a $750 billion average market-cap threshold over the prior year, effectively restricting any crypto allocation to Bitcoin, which the bill cites in its stated purpose without naming it directly in statute.
- Stablecoins would be eligible only if approved by federal or state regulators, and retirement systems would be limited to exposure through registered exchange-traded products.
- Custody options include direct secure custody by the treasurer, qualified third‑party custodians or registered exchange‑traded products, with detailed standards for key control, audits and disaster recovery.
- The bill permits yield activities such as staking or lending when legal ownership and risk limits are maintained, and it has been referred to the Senate Committee on Banking and Insurance with a subsequent referral to Finance as prospects for passage remain uncertain.