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  • A bill was introduced in Tennessee to allow the state and municipalities to invest in bitcoin.
  • Another bill introduced the same day seeks to establish a working group to study how Tennessee could become the nation’s top destination for Bitcoin businesses.
  • State Representative Jason Powell introduced both bills.

Democrat Representative Jason Powell introduced a draft bill to allow the state of Tennessee and other municipalities to invest in bitcoin, cryptocurrencies, and NFTs.

Tennessee House Bill 2644, “as introduced, authorizes a county, municipality, or the state to invest in cryptocurrency, blockchains, and non-fungible tokens,” according to the bill summary.

The bill was introduced on February 2 and assigned to the House Finance, Ways, and Means Subcommittee on Tuesday, where it stands for further consideration by committee representatives.

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