US Senator Ted Budd (R-NC) has introduced a new bill to protect the right of citizens to self-custody Bitcoin and other crypto. Dubbed the “Keep Your Coins Act”, the bill “protects an individual’s right to conduct transactions with cryptocurrency assets without the need to utilize a third-party intermediary.” Budd has stated that the act seeks to prevent third-party risks to consumers amid the FTX collapse. Furthermore, the bill would prohibit federal agencies from crafting rules that disallow self-custody in crypto, and Republican Representative Warren Davidson is a companion to the legislation. This bill is a push for digital assets and financial freedom among United States citizens, and is a response to the FTX collapse.
This is good news as it is in line with the government’s push for greater decentralization in the industry. The bill protects citizens from third-party risks associated with the use of digital currencies, and encourages financial freedom and a more decentralized cryptocurrency ecosystem.
This bill is an important step towards creating a safe and secure environment for digital assets, and will help ensure that citizens are able to maintain control over their own digital assets.
#Crypto #KeepYourCoinsAct #Bitcoin #DigitalAssets
You can read more about this topic here: Watcher Guru: US Senator Introduces Bill to Protect Bitcoin Self-Custody
