North Carolina Senate bill seeks review of digital assets and international remittance services

A bill submitted by State Sen. Paul A. Lowe, Jr. would require North Carolina to assess digital asset payment options and international remittance systems for residents, according to the North Carolina State Senate.

Filed as SB 975 on April 30 in the 2025 regular session, the measure is officially titled: ‘State Digital Asset Payments Study Act.’

The following summary references the actual bill text and may offer interpretation to clarify its key points.

Under this bill, the Department of State Treasurer would conduct two statewide studies: one on the potential, risks, and advantages of accepting certain digital assets—including regulated, dollar-backed stablecoins—for select state fee payments through services that promptly convert them to U.S. dollars, and another analyzing household international remittance costs and payment systems used by state residents. Study topics will include technology, cybersecurity, legal and regulatory compliance, consumer protection, competition, and financial stability, resulting in recommended policies. The legislation allocates $50,000 for the 2026-27 fiscal year and would become effective upon becoming law.

Among the three sponsors, Lowe submitted the most bills (49) in the 2025 regular session.

In North Carolina, legislation passes through a multi-step approval process. A lawmaker initiates this by filing a bill. The bill is then sent to a committee, must be read three times in each chamber, and if any chamber amends it after passage, both chambers must agree on the final language. Once approved by both bodies, the bill is sent to the governor, who has 10 days (or 30 if the General Assembly is out of session) to sign, veto, or allow it to become law without signature.

Further information about the bills and related actions can be found here.

Lowe holds a BA from Bishop College (1985) and a DMIN from Drew University School of Theology.

A Democrat, Lowe was elected to the North Carolina State Senate in 2015, succeeding Earline Parmon as representative for the 32nd Senate district.