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Warren Davidson introduces ‘Keep Your Coins’ bill to limit government influence over cryptocurrency

Congressman Warren Davidson stated that he has been working on the bill since 2016.

Warren Davidson, a congressman from Ohio’s eighth congressional district, introduced the “Keep Your Coins” bill in the House of Representatives. The bill aims to safeguard people’ self-custodied crypto wallets from US government agency control. This move serves as a direct reaction to the COVID-19 policy-focused Freedom Convoy demonstrators’ fundraising efforts in Canada.

The bill’s name, ‘Keep Your Coins’ emphasises the protection which the crypto users need against having their own digital assets taken away from them. If approved, Davidson’s bill would “prevent Federal authorities from prohibiting a person’s use of convertible virtual currency to acquire goods or services for the person’s personal use,” as well as other uses such as crypto transactions.

Davidson stated on Twitter that:

It is unclear how much support the bill will receive from the Democrats, however, as they have generally been more in favour of clamping down on crypto and blockchain technology:

Davidson warned at the Miami Bitcoin conference last year that possible over-regulation of the crypto sector regarding private wallets was a “terrible strategy.”

Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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