S. 2284

119 S2284 IS: Keep Your Coins Act of 2025
 U.S. Senate
 2025-07-15
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 2284  IN THE SENATE OF THE UNITED STATES   July 15, 2025   Mr. Budd  (for himself and  Mr. Lee ) introduced the following bill; which was read twice and referred to the  Committee on Banking, Housing, and Urban Affairs    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 2025  .
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.