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Tennessee Cryptocurrency Self-Service Terminal Ban Takes Effect on July 1
BlockBeats message, April 28: Tennessee Governor Bill Lee has signed a bill into law, officially making it illegal to use and install cryptocurrency ATMs and self-service terminals in Tennessee in the southeastern United States. The related companies will only have a few weeks left to complete compliance.
Lee signed the “Tennessee House Bill 2505” on April 13. The bill stipulates that starting July 1, installing cryptocurrency self-service terminals will be classified as a Class A misdemeanor. Under state law, these devices are reclassified as illegal, which may expose operators and businesses that provide installation venues to up to 11 months and 29 days in prison and a $2,500 fine.