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Bill

HB 1695

Public Funds and Financing - As introduced, enacts the "Tennessee Strategic Bitcoin Reserve Act." - Amends TCA Title 9, Chapter 4.

114th Regular Session (2025-2026) Introduced by Jody Barrett

Tennessee would authorize state treasury to purchase and hold Bitcoin as strategic reserve asset, creating cryptocurrency exposure in public finances.

Taken off notice for cal in s/c Finance, Ways, and Means Subcommittee of Finance, Ways, and Means Committee
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Bill Summary · HB 1695

Legislative bill overview

HB 1695 proposes establishing a "Tennessee Strategic Bitcoin Reserve Act" that would authorize the state to acquire and hold Bitcoin as part of its financial reserves. The bill amends Tennessee Code Annotated Title 9, Chapter 4, which governs public funds and state financing mechanisms.

Why is this important

This represents a significant shift in how states manage public treasury assets—moving beyond traditional cash, bonds, and securities into cryptocurrency holdings. The outcome could influence whether other states adopt similar strategies and affects how Tennessee's public funds (potentially including pension assets or general revenue) are deployed and valued.

Potential points of contention

  • Volatility and risk management: Bitcoin's price fluctuations create uncertainty in state budget planning and raise questions about fiduciary responsibility for public funds meant to be stable and secure
  • Regulatory and legal uncertainty: Federal cryptocurrency regulations remain evolving; Bitcoin's legal status and tax treatment could shift, creating compliance risks for state treasuries
  • Opportunity cost and returns: Debate over whether Bitcoin allocations would generate better returns than traditional investments or if funds should remain in predictable, lower-risk securities
  • Public accountability: Questions about transparency, audit procedures, and whether cryptocurrency holdings align with the state's investment policy responsibilities

Compiled from official sources — confirm details with the bill’s official record.

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