Share this article
Tennessee Is Closer to Barring Retirement Funds from Crypto Investments
The Tennessee Senate Ways and Means Committee has voted to advance a bill banning public retirement trusts from investing in cryptocurrencies.
By Nikhilesh De
Updated Sep 13, 2021, 7:40 a.m. Published Mar 9, 2018, 6:00 p.m.
A measure to bar public retirement funds from investing in cryptocurrencies is moving ahead in the Tennessee Senate.
As previously reported, twin bills filed in January would block the trustees of public, post-retirement benefit funds from making such investments. On March 6, the Tennessee Senate Ways and Means Committee cleared the measure by a 10-0 vote, passing it along to the full chamber for further consideration.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The bill, sponsored by Senator Bill Ketron (R-13), is identical to one being considered in the state's House of Representatives. Public records indicate that the House's Ways and Means Committee will take up the measure next week.
, sponsored by Representative Michael Curcio (R-69), also amends the Tennessee Code, specifically amending Title 8, Chapter 27, Part 8 to include "notwithstanding any law to the contrary, the trustees shall not invest in any cryptocurrency" as part of its statutes, as previously reported.
specifically deals with investment schemes for public employees. Trustees of the fund are charged with managing their finances and operation. It enables trustees to not only invest funds in legal investments, it also provides powers to work with different entities as well as to contract out the services required to maximize an investment.
An amendment to both bills would allow educators participating in post-employment benefits investment trusts through local agencies to continue doing so. While it is not explicitly stated, it seems to indicate that these trusts can potentially be invested in cryptocurrencies without impacting educators.
If passed, this would mark the first time public trustees would be banned from investing in cryptocurrencies for retirement funds.
Tennessee flag image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin dips, but quickly recovers as U.S. captures Venezuela's Maduro
The U.S. overnight launched a military strike against Venezuela, capturing President Nicolas Maduro and his wife and extracting them from the country.
What to know:
- The U.S. captured Venezuelan President Nicolas Maduro and his wife after a brief military operation Saturday morning, according to President Trump.
- Crypto prices suffered a brief, modest drop on the first reports of the military action, but have since recovered.
Top Stories
