Tennessee HB2060 prohibits banks from converting consumer funds into digital currencies without written consent.
Tennessee HB2060 amends the state's financial institutions code to prohibit banks from digitizing or converting consumer funds into digital currencies, including cryptocurrency, without explicit written authorization from the consumer. The bill allows the commissioner of financial institutions to take action against banks that violate this provision, including ordering them to cease the violation, imposing civil penalties, and covering investigation costs.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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