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S 2284119th CongressIn Committee
Keep Your Coins Act of 2025
Introduced: Jul 15, 2025
Sponsor: Sen. Budd, Ted [R-NC] (R-North Carolina)
Financial Services
Standard Summary
Comprehensive overview in 1-2 paragraphs
The Keep Your Coins Act of 2025 is a bill that would prohibit federal agencies from restricting individuals' ability to use cryptocurrency for personal purchases and transactions. The legislation protects the right of individuals to use convertible virtual currencies (cryptocurrencies that can be exchanged for traditional money) to buy goods and services for their own use, and to store these digital assets in self-hosted wallets where they maintain direct control. Essentially, the bill aims to prevent the federal government from interfering with personal cryptocurrency use and self-custody, ensuring individuals can manage their digital assets independently without government restrictions.
Key Points
- 1Prohibits federal agencies from restricting or impairing individuals' ability to use cryptocurrency for personal purchases of goods and services
- 2Protects the right to self-custody digital assets using self-hosted wallets or other means for lawful transactions
- 3Defines "convertible virtual currency" as any medium of exchange that has equivalent value to traditional currency or acts as a currency substitute
- 4Applies to "covered users" - individuals who obtain cryptocurrency to purchase goods or services for themselves, regardless of how they acquired it
- 5Defines "self-hosted wallet" as a digital interface that allows owners to retain independent control over their cryptocurrency holdings
Impact Areas
Cryptocurrency Users: Protects individual rights to use and store digital currencies without federal interferenceFederal Regulatory Agencies: Limits the authority of agencies like the SEC, Treasury, and others to regulate personal cryptocurrency transactionsFinancial Privacy: Strengthens individual financial autonomy and privacy in digital asset transactionsDigital Asset Industry: Provides clearer legal protections for self-custody solutions and personal cryptocurrency useLaw Enforcement: May affect regulatory approaches to monitoring cryptocurrency transactions while still allowing restrictions on unlawful activities
Generated by claude-sonnet-4-5-20250929 on Oct 8, 2025