Tennessee Prohibits Virtual Currency Kiosks

On April 13, Tennessee Governor Bill Lee signed House Bill 2505 into law, prohibiting the installation and operation of virtual currency kiosks in the state. The law amends the Tennessee Money Transmission Act and is effective July 1, 2026. Specifically, the law makes it an offense for a kiosk operator or other person to knowingly install or allow installation of, permit, place, or otherwise operate a virtual currency kiosk in Tennessee.... By: Sheppard, Mullin, Richter & Hampton LLP