119-hr148

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 148 Introduced in House

    (IH) ]

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119th CONGRESS
 1st Session
 H. R. 148

 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.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 January 3, 2025

 Mr. Davidson introduced the following bill; which was referred to the 
 Committee on Financial Services

_______________________________________________________________________

 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.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Keep Your Coins Act of 2025''.

SEC. 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.
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