The US state of Tennessee will consider a bill to allow the state to invest in crypto assets, as well as to create a committee to study and develop the blockchain.
In early February, Tennessee House of Representative Jason Powell introduced two bills, one of which aims to allow the state, its counties, and the municipality to invest in digital currencies and collectible tokens (NFTs).
Another bill introduced by Powell proposes the creation of an exploratory committee on blockchain issues. According to the document, the committee’s responsibilities will include exploring blockchain and NFT use cases, as well as developing rules for the industry.
Because of the 10th Amendment to the US Constitution, state and federal legislators often disagree over which body regulates which aspects of business and commerce. Some industry experts are calling the laws that crypto firms in the U.S. must comply with a “patchwork quilt.”
Earlier it was reported that both parties of the House of Representatives for financial services of the US Congress did not support the tightening of the law on the regulation of stablecoins.
Source: Bits
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