SOLARI REPORT: Tennessee State Senator Bill Powers and Representative Jeff Burkhart are Solari Heroes of the Week for passing a bill that excludes central bank digital currencies (CBDCs) from the definition of “money” and “deposit accounts” under Tennessee Code.

Heroes of the Week: September 30, 2024: Tennessee State Senator Bill Powers and Representative Jeff Burkhart @BillPowersTN

Tennessee State Senator Bill Powers and Representative Jeff Burkhart are Solari Heroes of the Week for passing a bill that excludes central bank digital… pic.twitter.com/xm1VlWuCl7

— The Solari Report (@solari_the) September 30, 2024

Tennessee State Senator Bill Powers and Representative Jeff Burkhart are Solari Heroes of the Week for passing a bill that excludes central bank digital currencies (CBDCs) from the definition of “money” and “deposit accounts” under Tennessee Code.

It is noteworthy that this bill, as enacted, also rules out international and intergovernmental CBDCs, not just CBDCs issued by the U.S. Federal Reserve Bank. This shows foresight on the part of Senator Powers and Representative Burkhart. The Bank for International Settlements (BIS) and other international organizations have been touting the idea of a CBDC for some time, making a national U.S. entity only one potential source of this threat to financial transaction freedom.

Congressman Mark Green, a former Tennessee State Senator, also provided support for this legislation and merits acknowledgment.

Senator Powers and Representative Burkhart did an excellent job successfully bringing SB 2219/HB 1901 through various committees and securing overwhelming bipartisan support on both the House and Senate floors. Solari applauds and commends the two legislators for their leadership.