State government; Oklahoma State Treasurer; digital assets; precious metals; Digital Asset Property Fund; effective date.

HB 1891 allows Oklahoma's State Treasurer to invest up to 10% of the State General Revenue Fund, State Rainy Day Fund, and State Lottery Fund in precious metals (gold, silver, platinum), digital assets with a market cap exceeding $500 billion, and regulated stablecoins. It requires digital assets to be held via secure custody solutions meeting strict security standards (like government-controlled private keys and multi-party transaction approvals) or through qualified custodians. The bill also creates the Digital Asset Property Fund to manage digital assets obtained through criminal asset forfeiture (not civil), aiming to return these assets to Oklahoma residents who lost control due to fraud or crime. Additionally, it permits state retirement funds to invest in exchange-traded products for qualifying digital assets and sets rules for staking or lending these assets to generate returns.