Tennessee SB2639 establishes a strategic bitcoin reserve for the state, allowing investment of up to 10% of certain state funds in bitcoin.
Tennessee SB2639, known as the Tennessee Strategic Bitcoin Reserve Act, allows the state treasurer to invest up to 10% of the general fund, revenue fluctuation reserve, or other designated state funds in bitcoin. The bill mandates secure custody solutions for bitcoin holdings, either through self-custody or qualified custodians. It also requires the treasurer to publish a report on bitcoin holdings and performance every two years. The act prohibits investing in other cryptocurrencies and digital commodities, except for bitcoin.
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