Keep Your Coins Act of 2023

Bill: 118-hr-4841
Sponsor: full_name: Rep. Davidson, Warren [R-OH-8]
Introduced: 2023-07-25
Policy area: Finance and Financial Sector
Subjects: Bank accounts, deposits, capital

Currency

Digital media
Latest action: action_date: 2023-12-19
text: Placed on the Union Calendar, Calendar No. 262.

Summaries:
action_date: 2023-07-25
action_desc: Introduced in House
text: <p><strong>Keep Your Coins Act of 2023</strong></p><p>This bill prohibits federal agencies from restricting a person's use of convertible virtual currency for their own purposes or to conduct transactions through a self-hosted wallet. &nbsp;</p><!--tinycomments|2.1|data:application/json;base64,eyJtY2UtY29udmVyc2F0aW9uXzcyNjc0MTY1NjIxNzE3NDQ2MDAzNDY2Ijp7InVpZCI6Im1jZS1jb252ZXJzYXRpb25fNzI2NzQxNjU2MjE3MTc0NDYwMDM0NjYiLCJjb21tZW50cyI6W3sidWlkIjoibWNlLWNvbnZlcnNhdGlvbl83MjY3NDE2NTYyMTcxNzQ0NjAwMzQ2NiIsImF1dGhvciI6ImFyZWVkQGxpYi5sb2MuZ292IiwiYXV0aG9yTmFtZSI6ImFyZWVkQGxpYi5sb2MuZ292IiwiY29udGVudCI6IkNCTyBzY29yZTogaHR0cHM6Ly93d3cuY2JvLmdvdi9wdWJsaWNhdGlvbi81OTY0NyIsImNyZWF0ZWRBdCI6IjIwMjQtMDYtMDNUMjA6MjA6MDMuNDY2WiIsIm1vZGlmaWVkQXQiOiIyMDI0LTA2LTAzVDIwOjIwOjAzLjQ2NloifV19fQ==-->

action_date: 2023-12-19
action_desc: Reported to House
text: <p><strong>Keep Your Coins Act of 2023</strong></p><p>This bill prohibits federal agencies from restricting a person's use of convertible virtual currency for their own purposes or to conduct transactions through a self-hosted wallet. &nbsp;</p><!--tinycomments|2.1|data:application/json;base64,eyJtY2UtY29udmVyc2F0aW9uXzcyNjc0MTY1NjIxNzE3NDQ2MDAzNDY2Ijp7InVpZCI6Im1jZS1jb252ZXJzYXRpb25fNzI2NzQxNjU2MjE3MTc0NDYwMDM0NjYiLCJjb21tZW50cyI6W3sidWlkIjoibWNlLWNvbnZlcnNhdGlvbl83MjY3NDE2NTYyMTcxNzQ0NjAwMzQ2NiIsImF1dGhvciI6ImFyZWVkQGxpYi5sb2MuZ292IiwiYXV0aG9yTmFtZSI6ImFyZWVkQGxpYi5sb2MuZ292IiwiY29udGVudCI6IkNCTyBzY29yZTogaHR0cHM6Ly93d3cuY2JvLmdvdi9wdWJsaWNhdGlvbi81OTY0NyIsImNyZWF0ZWRBdCI6IjIwMjQtMDYtMDNUMjA6MjA6MDMuNDY2WiIsIm1vZGlmaWVkQXQiOiIyMDI0LTA2LTAzVDIwOjIwOjAzLjQ2NloifV19fQ==-->

tv_txt: IB Union Calendar No. 262 118th CONGRESS 1st Session H. R. 4841 [Report No. 118–323] IN THE HOUSE OF REPRESENTATIVES July 25, 2023 Mr. Davidson introduced the following bill; which was referred to the Committee on Financial Services December 19, 2023 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Strike out all after the enacting clause and insert the part printed in italic For text of introduced bill, see copy of bill as introduced on July 25, 2023 A BILL To 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.

1. Short title This Act may be cited as the Keep Your Coins Act of 2023 . 2. Prohibition on restricting use of convertible virtual currency by a person to retain full control over convertible virtual currency (a) In general The head of a Federal agency may not prohibit, restrict, or otherwise impair the ability of a covered user to— (1) use convertible virtual currency or its equivalent for such user’s own purposes, such as to purchase real or virtual goods and services for the user’s own use; or (2) self-custody digital assets using a self-hosted wallet or other means to conduct transactions for any lawful purpose. (b) Definitions In this section: (1) Convertible virtual currencies The term convertible virtual currency means a medium of exchange that— (A) has an equivalent value as currency (as defined in section 1010.100 of title 31, Code of Federal Regulations (or successor regulations)); or (B) acts as a substitute for currency but may not possess all the attributes (including legal tender status) specified under such section 1010.100 (or successor regulations). (2) Covered user The term covered user means a person that obtains convertible virtual currency to purchase goods or services on that person’s own behalf, without regard to the method in which such covered user obtained such convertible virtual currency. (3) Self-hosted wallet The term self-hosted wallet means a digital interface— (A) used to secure and transfer convertible virtual currency; and (B) under which the owner of convertible virtual currency retains independent control over such convertible virtual currency that is secured by such digital interface.

December 19, 2023 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

tv_txt: I 118th CONGRESS 1st Session H. R. 4841 IN THE HOUSE OF REPRESENTATIVES July 25, 2023 Mr. Davidson introduced the following bill; which was referred to the Committee on Financial Services A BILL To 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.

1. Short title This Act may be cited as the Keep Your Coins Act of 2023 . 2. Prohibition on restricting use of convertible virtual currency by a person to retain full control over convertible virtual currency (a) In general A head of a Federal agency may not prohibit, restrict, or otherwise impair the ability of a covered user to— (1) use convertible virtual currency or its equivalent for such user’s own purposes, such as to purchase real or virtual goods and services for the user’s own use; or (2) self-custody digital assets using a self-hosted wallet or other means to conduct transactions for any lawful purpose. (b) Definitions In this section: (1) Convertible virtual currencies The term convertible virtual currency means a medium of exchange that— (A) has an equivalent value as currency (as defined in section 1010.100 of title 31, Code of Federal Regulations (or successor regulations)); or (B) acts as a substitute for currency but may not possess all the attributes (including legal tender status) specified under such section 1010.100. (2) Covered user The term covered user means a person that obtains convertible virtual currency to purchase goods or services on that person’s own behalf, without regard to the method in which such covered user obtained such convertible virtual currency. (3) Self-hosted wallet The term self-hosted wallet means a digital interface— (A) used to secure and transfer convertible virtual currency; and (B) under which the owner of convertible virtual currency retains independent control over such convertible virtual currency that is secured by such digital interface.