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Tennessee Bitcoin Reserve Bill Advances From Senate Committee in 8-0 Vote

SB2639 would allow the Tennessee state treasurer to invest up to 10% of certain state funds in Bitcoin, with custody and reporting requirements.

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Summary

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Terms & Concepts
  • Bitcoin reserve: A government-held allocation of Bitcoin as part of treasury or reserve assets.
  • Custody: The safeguarding and control of digital assets, typically through secure storage arrangements.
  • State treasurer: A public official responsible for managing a state government’s funds, investments, and financial reporting.