[Repealed effective 6/30/2025] Restrictions on payment or conversion of compensation or funds to blockchain, cryptocurrency, non - Fungible tokens, or virtual currency

(a) Notwithstanding another law to the contrary, a governmental entity shall not pay, compensate, award, or remit funds in the form of, or facilitate directly or indirectly the conversion of compensation or funds to, blockchain, cryptocurrency, non-fungible tokens, or virtual currency to an individual person, corporation, or other entity without the prior written approval of the state treasurer. (b) A governmental entity shall not procure services for the performance of the actions prohibited by subsection (a) without the prior written approval of the state treasurer. Added by 2022 Tenn. Acts, ch. 861, s 1, eff. 4/14/2022. (a) Notwithstanding another law to the contrary, a governmental entity shall not pay, compensate, award, or remit funds in the form of, or facilitate directly or indirectly the conversion of compensation or funds to, blockchain, cryptocurrency, non-fungible tokens, or virtual currency to an individual person, corporation, or other entity without the prior written approval of the state treasurer. (b) A governmental entity shall not procure services for the performance of the actions prohibited by subsection (a) without the prior written approval of the state treasurer. Added by 2022 Tenn. Acts, ch. 861, s 1, eff. 4/14/2022.