A bill has been submitted to the Tennessee House of Representatives (USA) that will allow government agencies in the region to invest in cryptocurrencies and NFTs.

A positive resolution of the budget committee is required for the bill to be put to a vote.

The document proposes amendments to state laws regarding eligible investments, and in the case of regions, the permitted use of “free funds”.

The author of the initiative, Congressman Jason Powell, also proposed the formation of a commission on research on cryptocurrencies and blockchain.

In January 2022, a member of the Arizona State Senate, Wendy Rogers, introduced a bill to approve bitcoin as a means of payment.

In July 2021, a blockchain task force based in Jackson, Tennessee, USA began exploring the possibility of paying property taxes and paying salaries in the cryptocurrency.

The latest announcement complements the further plans to explore the potential of the first cryptocurrency in order to integrate it into the financial system. The city authorities announced the possibility of paying salaries in bitcoin, mining the cryptocurrency, and adding BTC to the reserves of the municipality.

Earlier, candidates for the US Congress Shrina Kurani and Blake Masters issued NFTs to fund the election campaign.