This bill, the Keep Your Coins Act of 2025, would stop the head of a Federal agency from prohibiting, restricting, or otherwise impairing a covered user's ability to (1) use convertible virtual currency or its equivalent to purchase real or virtual goods and services for the user's own use, and (2) self-custody digital assets using a self-hosted wallet or other means to conduct transactions for any lawful purpose. The bill defines key terms: "convertible virtual currency" means a medium of exchange that has an equivalent value as currency under 31 C.F.R. 1010.100 (or successor regulations) or acts as a substitute for currency; a "covered user" is a person who obtains convertible virtual currency to buy goods or services on their own behalf, regardless of how they obtained it; a "self-hosted wallet" is a digital interface used to secure and transfer convertible virtual currency where the owner retains independent control.
If this bill became law, heads of Federal agencies could not bar or limit a person from using convertible virtual currency to buy goods or services for personal use. The bill would also bar agency limits on a person keeping control of digital assets in a self-hosted wallet and using those assets for lawful transactions. The protections apply to covered users acting on their own behalf.
No publicly available information.
No publicly available information about supporters' public statements or detailed arguments. The bill was introduced on July 15, 2025, by Senators Ted Budd, Mike Lee, and Cynthia Lummis and the text indicates its purpose is to prevent federal agencies from restricting personal use and self-custody of convertible virtual currency as described above.
No publicly available information.