U.S. Senator Proposes Bill to Protect Crypto Ownership Rights

U.S. Senator Proposes Bill to Protect Crypto Ownership Rights

LawUSA

By Miles

10 Nov 2023 (7 months ago)

1 min read

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Senator Budd's “Keep Your Coins” Act could secure American freedom in crypto use and wallet control.

Senator Ted Budd proposes the Keep Your Coins Act, aiming to ensure Americans can use cryptocurrencies freely.

This new bill wants to stop federal agencies from limiting how people use crypto for personal purchases.

The bill defends the rights of "covered users," people using crypto to buy goods or services for themselves, no matter how they got the crypto.

It would also protect the use of non-custodial wallets, where users control their own crypto, from federal restrictions.

Senator Budd has been active before, introducing a bill in April 2023 to fight financial crimes and another similar bill by Congressman Davidson in February 2022 to protect crypto privacy rights.

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