Bill > SB2370

This bill, known as the "Blockchain Basics Act," amends various Tennessee laws to regulate the use of blockchain technology and digital assets. Key provisions include: 1. Defining key terms like "blockchain," "controllable electronic record," and "digital asset mining" to clarify the scope of the legislation. 2. Allowing individuals to engage in "home digital asset mining" 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 those applied to data centers. 4. Prohibiting political subdivisions from discriminating against digital asset mining businesses through zoning changes or excessive noise regulations. 5. Preventing the state or local governments from restricting the use of controllable electronic records as a payment method or imposing additional taxes on such transactions. 6. Clarifying that businesses offering "staking as a service" do not constitute securities offerings under Tennessee law. The bill aims to provide a regulatory framework that fosters the development and adoption of blockchain technology and digital assets in Tennessee.

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https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB2370&ga=113