Tennessee Senate Committee to Weigh State Bitcoin Reserve Next Week
Bitcoin Magazine
The Tennessee Senate Finance Committee will review SB 2639, a proposal to integrate Bitcoin into the state's reserve assets to combat inflation.Summary
The Tennessee Senate Finance, Ways, and Means Committee is set to evaluate the "Tennessee Strategic Bitcoin Reserve Act" (SB 2639) on April 21. Sponsored by Sen. Kerry Roberts, the bill seeks to authorize the State Treasurer to invest a portion of state funds into Bitcoin, capped at 10% of eligible funds, to serve as a hedge against inflation. The legislation outlines strict custody requirements, including offline hardware storage and multi-party authorization, and mandates biennial transparency reports including cryptographic proof of holdings.
(Source：Bitcoin Magazine)