HB482 Alabama 2025 Session

Updated Feb 23, 2026

Notable

Summary

Primary Sponsor: Mike ShawRepresentative
Republican
Session: 2025 Regular Session
Title: State Treasurer, investment of funds in digital assets
Summary: This bill would let the State Treasurer invest some state funds in digital assets under defined limits and custody rules, starting October 1, 2025.
What This Bill Does
It authorizes the State Treasurer to invest monies available for investment in digital assets. Investments would be limited to 10% of the fund’s balance at the time of investment and must meet eligibility criteria, such as being an exchange-traded product or having a 12-month average market capitalization of at least $750 billion. Assets must be held through a secure custody arrangement (directly by the Treasurer, by a qualified custodian, or as an exchange-traded product from a registered issuer), and the Treasurer could loan assets if it doesn’t increase risk; the bill also allows the Treasurer to adopt implementing rules.

Who It Affects
State funds under the State Treasurer, which could be invested in digital assets up to 10% of each fund’s balance if they meet the criteria.
Digital asset custodians, qualified custodians, and ETP issuers, who would need to satisfy custody, governance, and compliance requirements to manage or hold assets on behalf of the state.

Key Provisions
Defines key terms: blockchain, digital asset, exchange-traded product (ETP), private key, qualified custodian, and secure custody solution.
Authorizes the State Treasurer to invest monies available for investment in digital assets.
Imposes a 10% aggregate cap on digital asset investments relative to the fund balance at the time of investment.
Requires assets to be either an exchange-traded product or have a 12-month average market capitalization of at least $750 billion, as determined by the Treasurer.
Requires assets to be held in one of: (a) direct custody via a secure custody solution, (b) on behalf of the state by a qualified custodian, or (c) as an ETP issued by a registered issuer.
Allows the Treasurer to loan digital assets if the loan does not increase financial risk.
Authorizes the Treasurer to adopt rules to implement the section.
Effective date: October 1, 2025.

AI-generated summary using openai/gpt-5-nano on Feb 22, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: State Government