tennessee

According to Cointelegraph, the Tennessee Bankers Association in the United States has selected Stablecore as its preferred digital asset technology provider, offering infrastructure for products such as stablecoins, tokenized deposits, and crypto asset-backed loans to approximately 175 member banks, without the need for banks to build their own systems.Stablecore develops backend infrastructure that allows banks to issue and manage tokenized assets while handling compliance and integration with core banking systems. This collaboration reflects the trend of traditional financial institutions integrating crypto services through third-party providers.

Tennessee Governor Bill Lee has signed a bill that officially becomes law, banning the use and installation of cryptocurrency ATMs and kiosks in Tennessee, located in the southeastern United States. Companies have only a few weeks left to comply.Lee signed Tennessee House Bill 2505 on April 13, which stipulates that starting July 1, the installation of cryptocurrency kiosks will be classified as a Class A misdemeanor. Under state law, such devices are reclassified as illegal, potentially exposing operators and businesses providing the equipment locations to a maximum of 11 months and 29 days in jail and a $2,500 fine.

Tennessee Governor Bill Lee has signed a bill that bans the operation of cryptocurrency ATMs statewide, becoming the second state after Indiana to implement a comprehensive ban. The bill (HB 2505) has officially taken effect and will be enforced starting July 1.According to the regulations, installing or operating "virtual currency kiosks" (i.e., Bitcoin ATMs) will be classified as a Class A misdemeanor, with a maximum penalty of one year in jail and a $2,500 fine. At the same time, merchants that allow the installation of such devices will also bear legal responsibility. Currently, most states in the U.S. have strengthened regulation through measures such as establishing licensing systems and transaction limits, but comprehensive bans remain rare. Data shows that since 2026, 30 states have proposed related legislation, with 20 states having passed laws, indicating a continued tightening of regulations against the risks of cryptocurrency ATM scams.

The Strategic Bitcoin Reserve Act in Tennessee, USA, will hold a hearing in the Senate Finance Committee on April 20, further advancing the legislative process.

According to Bitcoin Laws disclosed on the X platform, the "Bitcoin Reserve Act" HB1695 in the Tennessee House of Representatives has been "put behind the budget," which means the bill has been "softly shelved" due to its later scheduling in the legislative agenda.The corresponding Senate bill (No. 2639) is still progressing.

According to Cointelegraph, the "Strategic Bitcoin Reserve Act" in Tennessee, USA, has been recommended for passage and submitted to the Finance, Ways and Means Committee for review.If the bill is passed, it will allow the state treasurer to allocate up to 10% of public funds to Bitcoin.

According to Bitcoin Magazine, Tennessee Representative Jody Barrett has introduced a bill aimed at creating the "Tennessee Strategic Bitcoin Reserve."

According to CoinDesk, Tennessee regulators have ordered Kalshi, Polymarket, and Crypto.com to cease offering sports event contracts to residents of the state, accusing these companies of operating without the necessary licenses, in violation of the state's gambling laws.These companies are currently registered with the Commodity Futures Trading Commission (CFTC) as designated contract markets, providing users with the ability to purchase contracts based on the outcomes of sports events. However, under Tennessee's Sports Betting Law, any entity accepting bets on sports events must hold a license issued by the state government.SWC stated that none of these three companies hold a license. "Therefore, the sports event betting contracts offered... fall under the definition of bets as defined by the act, violating Tennessee laws and regulations, and are considered illegal activities," the letter stated.These companies have been ordered to stop all business activities in Tennessee by January 31, cancel any outstanding contracts involving residents of the state, and refund all deposits. Failure to comply may result in civil penalties of up to $25,000 per violation and could lead to criminal charges for aggravated promotion of gambling (which is classified as a felony under state law).

The Republicans avoided a surprising defeat in the U.S. House elections held in Tennessee on Tuesday, which relieved Trump and his congressional allies. According to predictions from the Associated Press, NBC News, and the election analysis site Decision Desk HQ, Trump-backed Republican candidate Matt Van Epps is set to win. Trump praised the Republican victory in a social media post, and Epps also announced his victory. However, even with the win, voters in a district where Trump won by a landslide a year ago are gradually distancing themselves from the Republican Party. This is the latest data point indicating the Republican Party's troubling prospects in next year's midterm elections.In a series of elections this year, the Democrats have outperformed their voting advantage for the 2024 presidential election. Just a few weeks ago, the party achieved political victories in New York City, New Jersey, and Virginia, sweeping the ballots, and won a redistricting referendum in California aimed at weakening the Republican advantage in Congress. (Jinshi)

ChainCatcher message, AP reports, former President Trump is expected to win in Tennessee.

ChainCatcher news, according to Bitcoin.com News, Tennessee has reached a multi-million dollar settlement with GS Partners regarding misleading digital asset and metaverse investments. Affected investors can submit claims within 90 days starting in November, with expectations to refund all deposited funds or cryptocurrencies.The settlement also includes other entities under the GSB Group, with related investment products involving G999 tokens, XLT certificates, and staking pools in the Lydian World metaverse. States that have reached settlements with the GSB Group also include Alabama, Arizona, Arkansas, Georgia, Texas, and Washington.It is reported that GS Partners includes two companies: GSB Gold Standard Corporation AG, which is a joint-stock company, and GSB Gold Standard Bank LTD, which is a limited banking company.

ChainCatcher news, according to The Block, Bitcoin mining company CleanSpark has spent $27.5 million to acquire 7 Bitcoin mining facilities in Tennessee, which will increase CleanSpark's current hash rate by over 22%, reaching 5 EH/s. The company expects to complete the related transactions by September 25.

ChainCatcher news, Tennessee Senator Bill Hagerty announced this week his support for presidential candidate Donald Trump, advocating for the U.S. to become a cryptocurrency hub. Hagerty compared cryptocurrency to the semiconductor industry, arguing that the latter's outflow undermines America's geopolitical standing, and accused the Biden administration of "doing everything possible to attack this industry" and failing to provide a regulatory framework for it. Trump and the Republican Party are actively courting cryptocurrency voters, accepting cryptocurrency donations, and repositioning themselves as cryptocurrency-friendly candidates.

ChainCatcher news, Fox Business reporter Eleanor Terrett posted on X that Musk's private jet arrived in Tennessee four hours ago, and he changed his profile picture to one with laser eyes. The 2024 Bitcoin Conference will take place on the 25th in Nashville, Tennessee, and the market speculates that Musk may attend.