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Can I collect cryptocurrency information from participants in Tennessee? What are the requirements?
Collecting Cryptocurrency Information in Tennessee
Based on the provided documents, there are no specific requirements or regulations regarding the collection of cryptocurrency information from participants in Tennessee. However, it is important to note that any information collected must be handled in accordance with the relevant confidentiality and privacy laws, such as TNCO 56-2-801 and TNRR Section 0940-01-10-.03.
Confidentiality of Information
TNCO 67-5-402 states that apart from a taxpayer’s annual reporting schedule filed with the assessor, information required to be filed or submitted by a taxpayer with regard to an assessment of tangible personal property, or provided by a taxpayer in response to an audit or information request by assessing officials or their agents with regard to an assessment of tangible personal property, shall be confidential and shall not be disclosed by state or local officials, agents or employees, except as authorized by this part. Violations of this section shall be punishable in the same manner as violations of § 67-5-401 regarding taxpayer records of the department of revenue.
Proprietary Information
Proprietary information shall not be open to the public for inspection, notwithstanding the provisions of Tennessee Code Annotated, Title 10, Chapter 7 or any other provision of law to the contrary. Proprietary information submitted to the board shall be disclosed only to the following individuals [4.1]:
- board members
- members of the board’s staff, legal counsel and the staff of such legal counsel
- on a need to know basis as determined by the board:
- consultants and experts employed or engaged by the board
- members of committees appointed by the board under the authority of T.C.A. §§7-86-308 and 309.
Submission of Proprietary Information
In order for information submitted to the board to be deemed proprietary information, a producing party must place the term “CONFIDENTIAL” on the cover of any document containing proprietary information and clearly and specifically mark all proprietary information contained within the document. Unless otherwise required by the board, subparagraph 1(b) of this rule shall not apply to a producing party if the information to be submitted concerns costs, revenue, technology, or market and customer data [4.3].
Therefore, before collecting any cryptocurrency information, it is recommended to consult with a legal professional to ensure compliance with all applicable laws and regulations.
Source(s):
Jurisdiction
Tennessee