Senators Ted Budd (R-N.C.) and Mike Lee (R-Utah) have reintroduced the Keep Your Coins Act in Washington, D.C., aiming to protect individuals' rights to control their digital assets. The bill would stop federal government overreach in its tracks, protecting Americans’ rights to engage in peer-to-peer transactions without the interference of third-party actors. This year, in 2023, U.S. Senator Ted Budd again introduced this legislation. Further, its aim is to ensure that the United States is the leader in financial autonomy and economic freedom in the digital asset sector.
Protecting Self-Custody of Digital Assets
Our Keep Your Coins Act would make clear that Americans should always have the right to self-custody their digital assets. That’s good news for Americans, who should be able to store their crypto assets wherever they want, without the risk of arbitrary government overreach. In doing so, the bill responds to widespread concerns that federal surveillance has infringed on the financial privacy of law-abiding Americans.
"Americans deserve to keep their crypto assets where they choose – not where they’ve been forced by the federal government. Washington’s dragnet-style surveillance has eroded the financial privacy of law-abiding Americans for decades. I’m proud to join Senator Budd’s Keep Your Coins Act to protect Americans’ privacy and ability to maintain self-custody of crypto assets," - Senator Lee
The Act echoes the call to eliminate third-party intermediaries from digital asset transactions. This amendment introduces fairness into the development of a more decentralized, autonomous financial ecosystem.
Key Provisions of the Act
In defending self-custody, Senator Budd is standing for the essential premise of the digital asset ecosystem. The Keep Your Coins Act would protect an individual’s right to engage in peer-to-peer transactions using their digital assets. The Act protects state-created rights by keeping the federal government out of the equation. This support bolsters the American crypto-as-digital-cash argument that individuals should be allowed to hold and control assets however they want.
"Self-custody is a founding principle of the digital asset ecosystem and needs to be protected. I introduced the Keep Your Coins Act of 2025 to ensure the federal government cannot infringe on a person’s ability to control their own digital assets. If cryptocurrencies are going to be digital cash, we need to protect a person’s right to hold their digital cash however they want. I urge my colleagues to support this common-sense legislation to ensure financial freedom for the digital asset ecosystem," - Senator Budd
Call for Support and Future Implications
As he continues his fight, we hope that his colleagues will join Senator Budd in supporting the Keep Your Coins Act. He is of the opinion that Americans should have the financial freedom and privacy that they have always enjoyed when transacting in digital assets.
We applaud Senators Budd and Lee for reintroducing this important bill to protect financial autonomy and personal privacy in the digital age. They want to make sure that Americans can keep their crypto assets in custody with whoever they choose.
