Tennessee pension funds may face bitcoin restrictions

nBankruptcy Review: In view of the huge volatility of the cryptocurrency market, the Tennessee Motion proposed that state public pension funds should be prohibited from investing in cryptocurrency-related products, but the state’s interest in blockchain technology was not affected and was linked to two states Joint motion to submit the blockchain signatures as a valid electronic record.n
nTranslation: Annie_Xun
Tennessee lawmakers in the United States put forward a new motion that may prohibit state government pension funds from investing in cryptocurrencies.n
The House bill, filed on January 30, is backed by Michael Curcio, a member of parliament, and once effective, will amend section 8 of the existing Tennessee Code relating to the welfare of retired public officials.n
The latest code shows that the state’s finance and administration department and the trustees of the Senate House are responsible for overseeing the fund’s investment plan.n
Although trustees have the right to invest in financial instruments allowed by the state’s retirement system, the new motion excludes cryptocurrencies.n
Motion proposed:n
n”The trustee should not invest in any cryptocurrency even if there are any opposite acts,” and demanded that the law take effect as soon as possible.n
nThe law may mean that lawmakers in the state are beginning to be wary of cryptocurrency-related investments because the market is too volatile.n
However, there have also been opposite legislative initiatives, targeting the underlying currency blockchain technology.n
It was reported by the media that the state submitted a motion with Florida and Nebraska in January to recognize blockchain signatures as legitimate electronic records.n

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