Tennessee lawmakers are considering legislation that would allow the state to hold bitcoin as part of its public financial reserves. 

If passed, the measure would place Tennessee among a small group of U.S. states that have moved to formalize bitcoin holdings through statute.

House Bill 1695, known as the Tennessee Strategic Bitcoin Reserve Act, was filed earlier this month by Rep. Jody Barrett (R–Dickson). The bill is scheduled for consideration during the current session of the 114th Tennessee General Assembly. 

It would grant the State Treasurer authority to invest a limited share of select state funds in bitcoin.

The bill’s findings cite inflation as a central…

Read more on BitcoinMagazine