Bill
Bill > SB2522
TN SB2522
TN SB2522AN ACT to amend Tennessee Code Annotated, Title 45, relative to digital currencies.
summary
Introduced
02/02/2026
02/02/2026
In Committee
Crossed Over
Passed
Dead
Introduced Session
114th General Assembly
Bill Summary
As introduced, prohibits a bank from digitizing or otherwise converting money held by the bank on behalf of a consumer into a digital currency, digital medium of exchange, or digital monetary unit of account, including cryptocurrency, without express, written authorization from the consumer for whom the money is held. - Amends TCA Title 45.
AI Summary
This bill requires banks, which include state banks, savings and loan associations, and credit unions, to obtain explicit written permission from a consumer before converting their money into digital currencies, such as cryptocurrency, or other digital forms of money. If a bank violates this rule, the Commissioner of Financial Institutions can order them to stop the practice, pay a civil penalty of up to $1,000 per violation per day, and cover investigation costs. Additionally, consumers harmed by such a violation can sue the bank for actual damages, punitive damages, and legal fees.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Senate Revenue Subcommittee Of Finance, Ways & Means Hearing (00:00:00 3/3/2026 Cordell Hull Building) (on 03/03/2026)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/Default?BillNumber=SB2522&ga=114 |
| Fiscal Note - HB2060 | https://www.capitol.tn.gov/Bills/114/Fiscal/HB2060.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/SB2522.pdf |
Loading...