West Virginia senator proposes Inflation Protection Act to permit state treasury crypto investments above $750B cap

On Wednesday, West Virginia State Senator Chris Rose introduced the Inflation Protection Act to let the state's Board of Treasury invest up to 10% of assets in precious metals, select digital assets and stablecoins. The bill would restrict crypto holdings to tokens with a market capitalization above $750 billion in the previous calendar year, a threshold met only by Bitcoin as of January, and has been sent to the Committee on Banking and Insurance for consideration.