HCR60--INVESTMENTSOFSTATERETIREMENTFUNDS
SPONSOR: Christofanelli
COMMITTEEACTION:Voted"DoPass"bytheSpecialCommitteeon
InnovationandTechnologybyavoteof5to2with1voting
present.
ThisresolutionrecognizestheemergingroleofBitcoinandother
digitalassesinthemodernfinancialecosystemsandencourages
stateretirementagenciestoconsidertheimplicationsofincluding
adigital-assetexchangetradedfund(EFT)intheirinvestment
portfolio. Theresolutionalsodirectsthestateretirementagency
toworkwiththeTreasurer'sOfficetoevaluatethepotentialrisks
andbenefitsofinvestinginsuchEFTs.Thestateretirement
agencymustprovidetheGeneralAssemblywithacomprehensive
reportonthefeasibility,risks,andbenefitsofdirectinga
portionofstateretirementfundsintodigital-assetEFTs.
PROPONENTS: SupporterssaythatthefederalSecuritiesand
ExchangeCommissionapprovedseveralEFTsearlierthisyear.This
resolutionwouldnotrequireinvestmentinthefundsbutwould
requirethestateretirementagencytolookatthebenefitsofthe
funds.
TestifyinginpersonforthebillwereRepresentative
Christofanelli; EricPeterson,SatoshiActionFund.
OPPONENTS: Therewasnooppositionvoicedtothecommittee.
OTHERS:OtherstestifyingonthebillsaythattheMissouriState
EmployeesRetirementSystemboardsetsassetallocations. In
addition,MOSERSalreadyinvestsinasmallamoutofcryptocurrency
andtherecentlyapproveddigitalassetEFTsarebeingevaluatedby
theagency.
TestifyinginpersononthebillwasAbbySpieler,MissouriState
EmployeesRetirementSystem.
Writtentestimonyhasbeensubmittedforthisbill.Thefull
writtentestimonyandwitnessestestifyingonlinecanbefound
underTestimonyonthebillpageontheHousewebsite.