Can Tennessee become a leader in NFTs and crypto among US states? A member of the Tennessee House of Representatives is hoping for exactly that. To that end, rep. Jason Powell has introduced two bills that would allow the different levels of government in the state to invest in NFTs and cryptocurrencies.
Could Tennessee become a leading state in NFTs and crypto?
Basically, Tennessee House Bill 2644 would change certain state codes. In essence, this would add crypto and NFTs to an accepted list of investments. Thus, the various levels of state governments in Tennessee could then invest in NFTs and crypto.
What’s more, this was the second crypto bill that Rep. Powell introduced on the same day. To clarify, he introduced Tennessee House Bill 2643 before introducing the NFT and crypto investment bill. In short, the purpose of HB 2643 is to form a study committee. To explain, this committee would carry out a study in order to make Tennessee “the most forward-thinking and pro-business state for cryptocurrency and blockchain”
Should the bills become law, this would certainly be an interesting development. Not only for Tennessee but also the state of NFTs and crypto in the US. To be sure, there is an interesting divide in US politics when it comes to the crypto space.
Some – generally older – politicians are firmly anti-crypto and want to see it heavily regulated. On the other hand, there are some politicians, like Powell, who see the potential of crypto and NFTs. Not only that, they are pushing for the places they represent to become hotspots for the emerging industries.
Tennessee may not be the first (or second, or third) state that one would think of when thinking of crypto-friendly places. Even so, the fate of the bill may end up being a mirror to current feelings about NFTs and crypto across the US.
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