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SENATE BILL 2251
By Pody
HOUSE BILL 2505
By Sexton
HB2505
012307
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AN ACT to amend Tennessee Code Annotated, Title 4;
Title 5; Title 6; Title 7; Title 8; Title 12; Title 13;
Title 29; Title 39; Title 45; Title 47 and Title 67,
relative to virtual currency kiosks.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Title 45, Chapter 16, is amended by adding
the following as a new part:
45-16-201.
As used in this part:
(1) "Electronic terminal":
(A) Means an electronic device through which a person may
initiate an electronic fund transfer to access the person's deposit, share,
or other accounts or credit facility; and
(B) Includes an automated teller machine, cash dispensing
machine, point of sale terminal, or other cash, debit, stored value, script,
or cash equivalent device;
(2) "Person" means an individual or entity;
(3) "Virtual currency" means a digital representation of value used as a
medium of exchange, a unit of account, or a store of value, but does not have
legal tender status as recognized by the United States government;
(4) "Virtual currency kiosk" means an electronic terminal acting as a
mechanical agent of the virtual currency kiosk operator to enable the virtual
currency kiosk operator to facilitate the exchange of virtual currency for money,
bank credit, or other virtual currency, including by:
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(A) Connecting directly to a separate virtual currency exchange
that performs the actual virtual currency transmission; or
(B) Drawing upon the virtual currency in the possession of the
electronic terminal's operator; and
(5) "Virtual currency kiosk operator" means a person that:
(A) Engages in virtual currency business activity via an electronic
terminal located in this state or a person that owns, operates, or manages
an electronic terminal located in this state through which virtual currency
business activity is offered;
(B) Knowingly permits the use or installation of a virtual currency
kiosk on property owned, leased, or controlled by the person; or
(C) Owns a virtual kiosk that is located or operated in this state.
45-16-202.
(a) It is an offense for a virtual currency kiosk operator or other person to
knowingly install or allow installation of, permit, place, or otherwise operate a virtual
currency kiosk in this state.
(b) A violation of subsection (a) is a Class A misdemeanor.
SECTION 2. This act takes effect July 1, 2026, the public welfare requiring it, and
applies to acts occurring on or after that date.