Sponsors
11 Republican
Warren DavidsonOH-8
This bill aims to prevent Federal agencies from restricting individuals' ability to use convertible virtual currency for personal purchases of goods or services. It also explicitly protects the right of individuals to self-custody their digital assets using self-hosted wallets for any lawful purpose, defining both "convertible virtual currency" and "self-hosted wallet" broadly to encompass various digital assets.
Official title: 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.
This bill is a significant victory for individual crypto users and embodies core principles that are very pro-crypto. By prohibiting Federal agencies from impairing the use of convertible virtual currency for personal transactions, it provides crucial regulatory clarity and protection against potential government overreach. More importantly, its explicit protection of self-custody via self-hosted wallets directly supports financial sovereignty and personal control over assets, which are fundamental to the crypto ethos. The bill limits the state's power to surveil or control individual financial choices, aligning perfectly with a preference for decentralized systems over central bank digital currencies (CBDCs). It fosters an environment where individuals can freely use and manage their digital assets without undue governmental interference, which is essential for the industry's healthy growth and adoption.
Every member who has sponsored, cosponsored or voted on this bill. Pick a vote to see how each member voted on it, or narrow by party, name or state.
1 Republican