Tennessee Passes Bill Recognizing Blockchain, Smart Contracts

The governor of Tennessee signed a bill recognizing the legal authority to use Blockchain technology and smart contracts for electronic transactions on March 22, according to legislative tracking site Legiscan. A summary of the bill reads that it “recognizes the legal authority of blockchain technology and smart contracts in conducting electronic transactions.” The bill also makes a provision that, “protects ownership rights of certain information secured by blockchain technology.”

Senate Bill 1662 was signed by Governor Bill Haslam little more than three months after its introduction on January 18 of this year, passing the Senate and House with no opposing votes. The bill was sponsored by Republican Senators Steven Dickerson and Richard Briggs, and Democratic Senators Lee Harris and Jeff Yarbro.

Reference: https://cointelegraph.com/news/vtennessee-passes-bill-recognizing-blockchain-smart-contracts-for-electronic-transactions

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