Tennessee enacts law prohibiting virtual currency kiosks

On April 13, the Tennessee governor signed into law a bill that, effective July 1, prohibits the installation and operation of virtual currency kiosks in the state. The law amends the Tennessee Code to add a new part defining key terms, including “virtual currency kiosk” as an electronic terminal that facilitates the exchange of virtual currency for money, bank credit, or other virtual currency.... By: Orrick, Herrington & Sutcliffe LLP