TBA Law Blog


Posted by: Julia Wilburn on Jul 7, 2026

Tennessee Attorney General (AG) Jonathan Skrmetti on Tuesday announced that a federal court has allowed Tennessee’s ban on cryptocurrency ATMs to go into effect. The court’s order rejects an effort by the cryptocurrency ATM industry to temporarily block the law. That request came as part of a larger lawsuit to invalidate Tennessee’s new law. The lawsuit, filed by GPD Holdings LLC, doing business as CoinFlip, and Charles Wernicke, doing business as Private IT Corporation, sought a temporary restraining order to prevent enforcement of Public Chapter 766 before the law's July 1 effective date. “Cryptocurrency ATMs are tools for scammers targeting vulnerable Tennesseans and are rarely used for anything approaching a legitimate purpose,” said Skrmetti. “If you see evidence that an elderly relative or friend is trying to make an unusual cryptocurrency transaction, work with them to make sure they’re not being ripped off.” Read more in a press release from Skrmetti or a bulletin about the new law from the Tennessee Department of Financial Institutions.