Never mind making Bitcoin legal tender, a Tennessee representative has introduced a bill to allow the state to invest in cryptocurrency assets.  Covered: Tennessee Bill To Allow State To Invest In Cryptocurrency Assets States Compete To Become The Blockchain Leaders In The US Tennessee Bill To Allow State To Invest In Cryptocurrency And NFTs Democratic […] The post Tennessee Representative Introduces Bill To Allow Crypto On State Balance Sheets appeared first on CryptosRus.

Tennessee Representative Introduces Bill To Allow Crypto On State Balance Sheets

Never mind making Bitcoin legal tender, a Tennessee representative has introduced a bill to allow the state to invest in cryptocurrency assets. 

Covered:

  • Tennessee Bill To Allow State To Invest In Cryptocurrency Assets
  • States Compete To Become The Blockchain Leaders In The US

Tennessee Bill To Allow State To Invest In Cryptocurrency And NFTs

Democratic Tennessee Representative Jason Powell has introduced a bill to the state that would allow Tennessee, counties of Tennessee, and municipalities to invest in Bitcoin, cryptocurrencies, and NFTs.

According to the summary of Tennessee House Bill 2644, the bill would authorize “a county, municipality, or the state to invest in cryptocurrency, blockchains, and non-fungible tokens”. The bill was introduced on the second of February and as of today, it has passed 25% of progression and has been assigned to the Finance, Ways, and Means Subcommittee. It is unclear at this time as to how much support the bill will attract.

Source = legiscan

States Compete To Become The Blockchain Leaders In The US

Powell also introduced a separate bill on the same day that would create a study commission that is purely focused on advancing Tennessee’s involvement in the blockchain space.

The Tennessee representatives approach to the cryptocurrency space continues the trend of government officials in the US trying to get their states on board with Bitcoin and blockchain investments. Just last month, Arizona state senator introduced a bill to make Bitcoin legal tender and the next potential governor of Texas said the state will “lead the world in leveraging blockchain technology”.

Additionally, Colorado is still accepting crypto as a form of tax payment this year, and if you’ve been keeping up with the international news, you would have noticed that a big player has entered the chat (cough, cough, RUSSIA). Anyways, all jokes aside, the FOMO is no longer restricted to retail investors, governments across the World are not worried about regulation and “consumer protection”, and are now more concerned with filling their own bags.

 

 

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