- 2023, 2024, Financial
Redefines “money” in such a way that obfuscates the use of cryptocurrencies.
HB 640 / SB 479
Bill Description
Bill Sponsors
Rep. Rush Bricken
Sen. John Stevens
Bill Co-Sponsors
House: Zachary, Grills, Burkhart
Senate: Bowling, Walley
TLRC Statement on Bill
We opposed this bill last year. But instead of getting withdrawn, it was simply pushed to the first calendar of this year.
This is the SAME bill that was vetoed last year in South Dakota by Gov. Kristi Noem as it was found that a simple UCC guidelines update was actually setting the table for the demise of decentralized cryptocurrency in favor of federalized regulations that will pave the way for Central Bank Digital Currency (CBDC).
Please watch this short interview with Tucker Carlson and Kristi Noem on why she vetoed the bill.
We stand in firm opposition to any effort to redefine “money” or any set of regulations that puts Tennessee in the crosshairs of the global push towards Central Bank Digital Currency.
For more information, watch this video from our analysis of this bill and the amendment posted on the bill last week in the Senate.
THIS BILL WAS AMENDED AND WE SUPPORT THE AMENDMENT.
The omnibus 2022 UCC Amendments were deleted from the bill in exchange for a one-page amendment which simply defines a “deposit account” in such a way that the state will not recognize a central bank digital currency. This is a win for liberty.
