Tennessee to discuss possibility of state investments in cryptocurrencies and NFTs

A bill has been introduced in the Tennessee House of Representatives (USA) законопроект, which, if approved, would permit state agencies in the region to invest in cryptocurrency and NFT.

A positive resolution by the Budget Committee is required to bring the bill to a vote.

The document would amend state law on permissible investments, and, for counties, on the permitted use of ‘free funds’.

The sponsor, Congressman Jason Powell, also proposed forming a commission for cryptocurrency and blockchain research.

In January 2022, Arizona State Senator Wendy Rogers introduced a bill proposing Bitcoin’s designation as a payment instrument.

In July 2021, Tennessee’s Jackson-based blockchain task force began studying the feasibility of paying property taxes and salaries in Bitcoin.

The latest announcement complements the announced plans to study the potential of the first cryptocurrency for its integration into the financial system. At the time, city authorities said there was the possibility of paying salaries in Bitcoin, mining Bitcoin, and adding BTC to the municipality’s reserves.

Earlier U.S. congressional candidates Shrina Kurani and Blake Masters released NFTs to fund their campaigns.

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