Jason Powell, a member of the Tennessee House of Representatives, has introduced a bill proposing counties, municipalities, and the state to invest in cryptocurrencies and nonfungible tokens, or NFTs.
According to Tennessee House Bill 2644 introduced on Feb. 2, Powell proposed amending the current state code to add crypto, blockchain, and NFTs to the list of authorized investments for the counties, state, and municipalities to make with idle funds. Lawmakers assigned the bill to the House Finance, Ways, and Means Subcommittee on Feb. 8 for further consideration.