Bill > HB2309

This bill, known as the "Blockchain Basics Act," amends various Tennessee statutes to regulate and promote the use of blockchain technology. The key provisions include: 1. Defining key terms related to blockchain, such as "blockchain," "controllable electronic record," "digital asset mining," and "staking as a service." 2. Allowing individuals to engage in home digital asset mining (using computers to secure blockchain networks) and operate blockchain nodes without requiring a money transmission license. 3. Permitting digital asset mining businesses to operate in industrially-zoned areas without additional restrictions beyond what applies to data centers. 4. Prohibiting local governments from discriminating against digital asset mining businesses through zoning changes or imposing specific sound limits. 5. Prohibiting the state or local governments from restricting the use of controllable electronic records (e.g., cryptocurrencies) for legal purchases or imposing additional taxes solely based on their use as a payment method. 6. Clarifying that businesses offering "staking as a service" (technical support for blockchain validation) are not subject to securities regulations. The bill aims to create a regulatory framework that encourages the development and adoption of blockchain technology in Tennessee.

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https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB2309&ga=113