In a move aimed at preserving the autonomy of cryptocurrency users and safeguarding their ability to self-custody digital assets, U.S. Senator Ted Budd (R-NC) has introduced the Keep Your Coins Act.
This legislative proposal, which came after last year’s FTX exchange collapse, seeks to protect individuals’ rights to conduct cryptocurrency transactions without relying on third-party intermediaries.
Senator Ted Budd’s Keep Your Coins Act
U.S. Senator Ted Budd announced on November 7 the introduction of the Keep Your Coins Act. This legislation aims to protect individuals’ rights to self-custody Bitcoin and other cryptocurrencies, effectively allowing them to conduct transactions without needing third-party intermediaries. This development comes after last year’s FTX exchange collapse, which exposed vulnerabilities in centralized custody systems.
If passed into law, the legislation would empower cryptocurrency users by allowing them to maintain custody of their digital assets in
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