U.S. lawmakers introduced the "Keep Your Coins Act" bill in the Senate, which will allow users to self-custody crypto assets

U.S. Senator Ted Budd formally proposed the “Keep Your Coins Act” bill in the Senate on November 7. If approved, the bill would allow crypto users to host their digital assets directly through personal self-custody wallets without using an intermediary, which would allow crypto users to retain “independent control” of their assets while preventing third parties from overstepping their authority. Budd said in a statement: “As consumers face new challenges and risks associated with using digital currencies, we should empower individuals to maintain control of their digital assets. This approach will promote financial freedom and more decentralized The cryptocurrency ecosystem.” (Cryptonews) According to previous news on July 8, the U.S. House of Representatives Financial Services Committee has passed the Clarity for Payment Stablecoins Act of 2023, the Keep Your Coins Act of 2023, and five other financial instruments. Related Acts. The bills respectively aim to provide regulation for the issuance of payment stablecoins and ensure that cryptocurrency users are allowed to hold their assets in self-hosted wallets.