Protecting Your Digital Assets
U.S. Senator Ted Budd has introduced the Keep Your Coins Act to protect individuals’ rights to self-custody Bitcoin and other cryptocurrencies, allowing them to conduct transactions without relying on third-party intermediaries. This legislation aims to empower cryptocurrency users by enabling them to maintain custody of their digital assets in self-hosted wallets.
Congressman Davidson’s Proposal
In a similar move, Representative Warren Davidson saw the U.S. House Committee on Financial Services pass the Keep Your Coins Act of 2023 (H.R. 4841), which focuses on preventing government agencies from imposing regulations that would require the use of third-party custodians for digital wallets. Davidson has been vocal about his support for self-custody, emphasizing that this approach protects individual freedom.
Hot Take: A Step Towards Financial Freedom
The introduction of these legislative proposals is a significant step toward preserving the autonomy and financial freedom of cryptocurrency users. By safeguarding their ability to self-custody digital assets, these acts aim to create a more decentralized cryptocurrency ecosystem, empowering individuals and fostering greater control over their own financial future.
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