[Repealed effective 6/30/2025]

As used in this part:

(1) “Blockchain” means a decentralized data system in which the data stored is mathematically verifiable that uses distributed ledger technology, as defined in § 47-10-201, or databases to store specialized data in the permanent order of transactions recorded;

Terms Used In Tennessee Code 9-3-602

  • Blockchain: means a decentralized data system in which the data stored is mathematically verifiable that uses distributed ledger technology, as defined in §. See Tennessee Code 9-3-602
  • Governmental entity: means a local governmental entity, including, but not limited to, a municipality, metropolitan government, county, utility district, school district, public building authority, and development district created and existing pursuant to the laws of this state, or an instrumentality of government created by one (1) or more of the named local governmental entities or by an act of the general assembly. See Tennessee Code 9-3-602
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • Municipality: means any county, incorporated city or town, school district, utility district, improvement district, taxing district, housing authority, industrial development board, health and educational facilities board, or other district, authority, commission, board, public body or political subdivision in this state. See Tennessee Code 9-3-102
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Virtual currency: means a digital representation of value that functions as a medium of exchange, a unit of discount, or a store of value, but does not have legal tender status in the United States. See Tennessee Code 9-3-602
(2) “Cryptocurrency” means a virtual currency that utilizes cryptography to validate and secure transactions that are digitally recorded through distributed ledger technology;
(3) “Governmental entity” means a local governmental entity, including, but not limited to, a municipality, metropolitan government, county, utility district, school district, public building authority, and development district created and existing pursuant to the laws of this state, or an instrumentality of government created by one (1) or more of the named local governmental entities or by an act of the general assembly;
(4) “Non-fungible token” means a non-fungible cryptographic asset on a blockchain that possesses unique identifiers or other metadata that distinguishes the asset from another token or asset in a manner that makes the asset irreplaceable and non-exchangeable for a similar token or asset; and
(5) “Virtual currency” means a digital representation of value that functions as a medium of exchange, a unit of discount, or a store of value, but does not have legal tender status in the United States.
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