A Tennessee lawmaker, Jason Powell, has proposed a bill that will enable the state to engage in crypto and non-fungible tokens investment.
Earlier this month, the state lawmaker introduced House Bill 2644, which would authorize a county, municipality, or state investment in crypto, blockchains, and non-fungible tokens.
This proposal was possible through the amendment of some sections of state law that defined what authorized investment was and, in counties, it allowed the use of the state’s unused funds.
Available information from LegiScan indicated that a subcommittee within the House Finance, Ways, and Means Committee had received the said proposal for assessment and possible consideration.
He also suggested a bill creating a study committee that will make the state “the most forward-thinking and pro-business state for cryptocurrency and blockchain and to foster a positive economic environment for blockchain and cryptocurrency.”
