Senator Ted Budd has introduced the “Keep Your Coins Act,” a proposed bill aiming to secure freedom in the use of cryptocurrencies for Americans.
This new bill is focused on preventing federal agencies from imposing restrictions on how individuals can utilize cryptocurrencies for personal transactions.
The bill specifically protects the rights of “covered users,” referring to individuals who use cryptocurrencies to purchase goods or services for their personal use, regardless of the source of the cryptocurrency.
Furthermore, it aims to preserve the use of non-custodial wallets, which allow users to have full control over their cryptocurrency, free from federal restrictions.
Senator Budd has previously been active in advocating for crypto-related legislation. In April 2023, he introduced a bill aimed at combating financial crimes, and in February 2022, a similar bill was introduced by Congressman Davidson to protect crypto privacy rights.