Washington, D.C. — Senator Ted Budd (R-NC) has introduced the Keep Your Coins Act, which would protect an individual’s right to conduct transactions with cryptocurrency assets without the need to utilize a third-party intermediary.
In the wake of the collapse of FTX, the Keep Your Coins Act would allow customers to maintain custody of their digital assets in self-hosted wallets and avoid third party risks. The bill would prohibit any federal agency from proposing a rule that would impair a person’s ability to act as a self-custodian of digital assets.
The House companion is led by Rep. Warren Davidson (R-OH).
The legislative text of the bill is HERE.
Sen. Budd said in a statement:
“As consumers face new challenges and risks associated with the use of digital currencies, we should be empowering individuals to maintain control over their own digital assets. This approach will foster financial freedom and a more decentralized cryptocurrency ecosystem.”