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 <p class="is-style-lead">Ted Budd has presented the “Keep Your Coins Act” to Congress, legislation designed to ensure individuals’ rights to directly manage their cryptocurrencies without compulsory third-party involvement.</p>
 <p>Senator Budd (R-NC) has proposed a bill aiming to safeguard the autonomy of American citizens in handling their digital currencies.</p>
 <p>Amidst increasing governmental attention towards the regulation of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies following the collapse of the FTX exchange, this bill, named the “Keep Your Coins Act,” presents a counter-narrative emphasizing financial freedom and personal control over digital assets.</p>
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    <p lang="en" dir="ltr">JUST IN: US Senator Ted Budd <a rel="noopener noreferrer nofollow" title="introduces" href="https://thebittimes.com/tag/introduces.html">introduces</a> bill to protect the right to self<a rel="noopener noreferrer nofollow" title="-custody" href="https://thebittimes.com/tag/custody.html">-custody</a> #Bitcoin &amp; <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>.</p>— Watcher.Guru (@WatcherGuru) November 8, 2023
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 <p>The essence of the proposed legislation is to ensure that individuals retain the ability to engage in cryptocurrency transactions without mandatory reliance on third-party intermediaries, which can represent points of vulnerability as seen in recent crypto industry setbacks.</p>
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 <p>The FTX debacle highlighted the potential risks associated with third-party involvements in digital asset transactions, leading to amplified calls for enhanced protective measures for consumers.</p>
 <p>Senator Budd’s initiative aligns with a broader movement amongst certain U.S. officials advocating for increased decentralization within the <a rel="noopener noreferrer nofollow" title="cryptocurrency" href="https://thebittimes.com/tag/cryptocurrency.html">cryptocurrency</a> sector. The bill is not only a reaction to past events but also a proactive measure aimed at precluding federal agencies from enacting regulations that would prohibit or unduly restrict self<a rel="noopener noreferrer nofollow" title="-custody" href="https://thebittimes.com/tag/custody.html">-custody</a> practices in the realm of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies.</p>
 <p>Accompanying Senator Budd’s legislative efforts is Representative Warren Davidson, who previously introduced similar legislation in 2022. The coordinated attempt reflects a bipartisan understanding of the importance of digital asset self-sovereignty and the overarching principle of maintaining a decentralized ethos in the burgeoning crypto ecosystem.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> SEC and CFTC find clarity in new legislation to regulate crypto
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/u-s-senator-introduces-bill-to-uphold-self-custody-rights-for-cryptocurrency-owners-tbt69582.html">https://thebittimes.com/u-s-senator-introduces-bill-to-uphold-self-custody-rights-for-cryptocurrency-owners-tbt69582.html</a></p>

U.S. Senator introduces bill to uphold self-custody rights for cryptocurrency owners

TheBitTimes

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