The Tennessee pension funds prohibit investments in cryptocurrency

Lawmakers in Tennessee have proposed a new bill that would ban pension funds of the state to invest in cryptocurrencies.

January 30 in the House of representatives introduced a bill supported by Chamber member Michael Curcio (Michael Curcio), which, if adopted, will amend the existing Code of Tennessee concerning benefits post-employment for public officials and employees.

According to the latest edition of the Code
Tennessee Trustees to monitor investment plans are appointed from members of the Department of Finance and administration staff and also the Senate and house of representatives.

Now Trustees are granted the authority to invest in financial instruments, which may invest pension system of Tennessee. Under the new bill proposes to exclude cryptocurrencies from this list.

This proposal suggests that the legislators of Tennessee are afraid of investment associated with cryptocurrencies, given the high market volatility. While fear of technology blockchain the government of the state. In January of this year, Tennessee joined Florida and Nebraska for consideration was the proposed bill recognizing legal validity of digital signatures in the blockchain.

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