State of Tennessee prepares to hold cryptocurrencies

The state of Tennessee is looking for a contractor to hold cryptocurrencies on its behalf.

A request for proposals with a Thursday deadline asks potential vendors to tell the Tennessee Department of Treasury how the company would manage for the state virtual currencies like Bitcoin. Currently, the state holds no cryptocurrencies, according to the RFP, and is seeking a vendor in order to “be prepared in the event that unclaimed virtual currency is remitted to the state’s unclaimed property program.”