Tennessee Bitcoin Reserves and Cryptocurrency Laws

Tennessee Bitcoin Reserves and Cryptocurrency Legislation

Tennessee Bitcoin Reserve Overview

Proposed Reserves (SB 508)
Friendly Regulatory Status
Blockchain Development Encouraged

Tennessee Bitcoin Reserves

Tennessee Legislative Breakdown

State	BTC Reserves	% of Global Holdings	Legal Status	Last Updated	Key Laws and Regulations
Tennessee (TN)	Proposed (No Official Reserves)	0%	Friendly	2025-01-30	SB 508 (2025): Strategic Bitcoin Reserve Act, proposes using rainy day funds to purchase up to 21,500 BTC; pending as of May 2025 [](https://blog.cscglobal.com/legislative-developments-february-3-2025/) HB 1478 (2024): Protects rights to self-custody, mine, and run Bitcoin nodes; signed into law on April 17, 2024 SB 2508 (2022): Authorized state and counties to invest in cryptocurrencies; signed into law on March 23, 2022 No state money transmitter license required for crypto businesses, easing operations State income tax (0%) and federal capital gains tax (15–37%) apply to crypto earnings ~190,000 residents (~2.7% of population) use crypto; $3.8B in transactions (2023–2024, est.) Approximately 20 Bitcoin ATMs, primarily in Nashville and Memphis (2024) SB 2566 (2024): Excluded CBDCs from definition of money; signed into law on March 26, 2024

Tennessee Bitcoin Reserve Status

Current status: PROPOSED (NO OFFICIAL RESERVES)

Tennessee has not established a state Bitcoin reserve, but SB 508, introduced on January 30, 2025, proposes the Strategic Bitcoin Reserve Act, allowing the state to purchase up to 21,500 BTC using rainy day funds to diversify state assets. The bill is pending as of May 2025. Tennessee’s crypto-friendly environment is supported by HB 1478 (2024), protecting self-custody and mining, and SB 2508 (2022), authorizing crypto investments. No state money transmitter license is required, and the absence of state income tax enhances crypto adoption.

[](https://blog.cscglobal.com/legislative-developments-february-3-2025/)

No funds have been allocated for Bitcoin reserves, as SB 508 awaits approval. Tennessee aims to leverage its $2.15B rainy day fund to acquire Bitcoin at ~$100,000 per BTC if passed.

[](https://bitcoinreservemonitor.com/usa/tennessee)

1/30/2025

PROPOSED

SB 508, the Strategic Bitcoin Reserve Act, was introduced, proposing to purchase up to 21,500 BTC using rainy day funds.

4/17/2024

SIGNED INTO LAW

HB 1478 was signed into law, protecting rights to self-custody, mine, and run Bitcoin nodes.

3/26/2024

SIGNED INTO LAW

SB 2566 was signed into law, excluding CBDCs from the definition of money in Tennessee.

3/23/2022

SIGNED INTO LAW

SB 2508 was signed into law, authorizing the state and counties to invest in cryptocurrencies.

Tennessee Bitcoin Reserves and Cryptocurrency Legislation

Tennessee Bitcoin Reserve Overview