The ban on cryptocurrency self-service terminals in Tennessee will take effect on July 1

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.