S. 2284: Keep Your Coins Act of 2025
This bill, known as the Keep Your Coins Act of 2025, aims to ensure that individuals can freely use convertible virtual currency without restrictions imposed by federal agencies. In more specific terms, the legislation proposes the following key provisions:
Prohibiting Restrictions on Use
The bill establishes that heads of federal agencies cannot:
- Prohibit or restrict a person's ability to use convertible virtual currency to purchase goods or services for their own use.
- Impair the ability of a person to manage their digital assets using self-hosted wallets or similar methods for lawful transactions.
Definitions of Key Terms
The bill provides definitions for several key terms to clarify its provisions:
- Convertible virtual currencies: These are forms of currency that have some exchange value or can serve as a substitute for currency, though they may not have all the legal attributes of traditional currency.
- Covered user: This refers to any individual who obtains convertible virtual currency to purchase goods or services for themselves, regardless of how they acquired the currency.
- Self-hosted wallet: This is a digital tool that allows users to securely manage and transact their convertible virtual currency while maintaining full control over it.
Overall Intent
The overarching purpose of this bill is to safeguard users' rights to utilize convertible virtual currencies without undue interference from federal regulations. It reflects a legislative intent to support individual control over digital assets, reinforcing a framework for users to conduct legitimate transactions using these currencies.
Relevant Companies
- COIN (Coinbase Global, Inc.) - As a leading cryptocurrency exchange, Coinbase may be directly affected by this legislation, as it would impact how users interact with their convertible currencies.
- GS (Goldman Sachs Group, Inc.) - As a financial institution exploring cryptocurrency services, Goldman Sachs might experience changes in regulatory landscape affecting their offerings in the crypto space.
- RIOT (Riot Blockchain, Inc.) - A company involved in cryptocurrency mining, Riot Blockchain could be impacted by how users choose to transact and utilize their crypto assets.
This is an AI-generated summary of the bill text. There may be mistakes.
Sponsors
2 bill sponsors
Actions
2 actions
| Date | Action |
|---|---|
| Jul. 15, 2025 | Introduced in Senate |
| Jul. 15, 2025 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Corporate Lobbying
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