A measure to bar public retirement funds from investing in cryptocurrencies is moving ahead in the Tennessee Senate.
As previously reported, twin bills filed in January would block the trustees of public, post-retirement benefit funds from making such investments. On March 6, the Tennessee Senate Ways and Means Committee cleared the measure by a 10-0 vote, passing it along to the full chamber for further consideration.
The bill, sponsored by Senator Bill Ketron (R-13), is identical to one being considered in the state’s House of Representatives. Public records indicate that the House’s Ways and Means Committee will take up the measure next week.
House Bill 2093, sponsored by Representative Michael Curcio (R-69), also amends the Tennessee Code, specifically amending Title 8, Chapter 27, Part 8 to include “notwithstanding any law to the contrary, the trustees shall not invest in any cryptocurrency” as part of its statutes, as previously reported…
Read Full: Tennessee Is Closer to Barring Retirement Funds from Crypto Investments