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.

Related:

Senate Bill 2219 (PDF)

Bill Powers, State Senate (website)

Senator Bill Powers

Jeff Burkhart, State Representative (website)

Representative Jeff Burkhart

Related Solari Reports:

Hero of the Week: May 13, 2024: Tennessee Senator Jack Johnson and Representative Jason Zachary

Hero of the Week: January 15, 2024: Tennessee Representative Jay Reedy

Pushback of the Week: April 15, 2024: Tennessee Pushes Back on Pharma Food

2023 Heroes of the Year: Tennessee Senator Frank Niceley and Tennessee Representative Bud Hulsey

Hero of the Week: May 1, 2023: Tennessee Legislators Opposing Red Flag Gun Laws