Ohio’s eighth district congressman Warren Davidson has introduced the “Keep Your Coins” bill in the House of Representatives to protect individuals’ self-custodied crypto wallets from U.S. government agency control.

The introduction on Feb. 15 comes just a day after the Canadian government invoked the Emergencies Act, giving it the power to freeze bank accounts and monitor large transactions (including crypto) without a court order. The move was in direct response to fundraising efforts by the COVID-19 policy-focused Freedom Convoy protesters.

The name of the bill ‘Keep Your Coins’ is a play on KYC and refers to protections for crypto users from having their own digital assets taken out of their control.

If passed, Davidson’s bill would “prohibit Federal agencies from restricting the use of convertible virtual currency by a person to purchase goods or services for the person’s own use,” and for other purposes such as crypto transactions.

While it appears that the bill has been put forward during an opportune time as the Canadian government’s action causes uproar, Davidson stated on Twitter yesterday that the bill has been in the works for six years before it was introduced to the House of Reps.

It is unclear how much support the bill will get from the Democrats however, as they have…

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.