2 years ago
U.S. Congressman Warren Davidson (R-OH) introduced authorities entitled the “Keep Your Coins Act” this morning. This comes successful the aftermath of mounting concerns implicit crackdowns connected civilian liberties successful Canada, arsenic backstage companies and the Canadian government leverage control of the bequest fiscal system to disrupt ongoing protests implicit COVID-19 policies.
If passed, the measure would forestall immoderate bureau caput from prohibiting oregon different restricting “the quality of a covered idiosyncratic to— (1) usage virtual currency oregon its equivalent for specified user’s ain purposes, specified arsenic to acquisition existent oregon virtual goods and services for the user’s ain use; oregon (2) behaviour transactions done a self-hosted wallet.”
Bitcoin Magazine sat down with Congressman Davidson to sermon the bill:
I cognize self-custody has been connected your caput for a portion now. What prompted today’s move?
We started moving connected the substance aft it was evident that Secretary Yellen would resurrect the effort to restrict self-custody. If they can’t halt crypto, they privation to effort to determination it to an account-based system.
What does the measure accomplish?
It takes the FinCen connection that’s been retired determination for a portion present and provides a model for KYC that protects self-custody.
This feels timely, particularly aft the Canadian authorities has doubled-down connected restricting the backing for and slope accounts of the protesters there. In your mind, what’s the narration betwixt self-custody and escaped speech?
People are talking astir [free speech] with the trucker convoy. If this [protest] happened successful America, immoderate would beryllium cheering, immoderate would beryllium upset. My constituent is that it should beryllium even-handed. We shouldn't usage wealth arsenic a mode of controlling people. Of people if there’s transgression activity, you should spell aft that. But ideate if the aforesaid happening were done to a crowdfunded BLM movement. That wouldn’t beryllium okay. It’s not good with the Freedom Convoy, either.
What tin Bitcoin Magazine readers bash to assistance this measure pass?
If radical work astir this measure and enactment it, they tin interaction their representatives successful Congress and the Senate and promote them to bash the same. Hopefully we physique momentum swiftly and connect it to must-pass legislation.
English (US) 