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US Congressman Introduces ‘Keep Your Coins Bill’ to Prevent Government Confiscation
In the wake of mounting concerns relating to private companies and the Canadian federal government denying financial services to members of the Freedom Convoy, US Congressman Warren Davidson took to Twitter to advise followers that a “Keep Your Coins Act” (KYC) bill would soon be tabled before legislators:
Implications of the Bill
At its core, the KYC bill purports to protect investors’ ability to have self-custody of their own assets, as well as engage in peer-to-peer transactions.
If the bill were passed in its current form, it would block state and federal agencies from prohibiting or otherwise restricting “the ability of a covered user to use 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 conduct transactions through a self-hosted wallet”.
Protest Should Be ‘Even-Handed’
In a discussion with Bitcoin Magazine, Congressman Davidson commented that self-custody had been on his mind for some time and that whatever your views were of the Freedom Convoy:
If this [protest] happened in America [the US], some would be cheering, some would be upset. My point is that it should be even-handed. We shouldn’t use money as a way of controlling people. Of course, if there’s criminal activity you should go after that. But imagine if the same thing were done to a crowdfunded BLM movement. That wouldn’t be okay. It’s not okay with the Freedom Convoy, either.
Republican Senator Warren Davidson
Davidson’s financial services counsel, Tim Hite, echoed these sentiments:
Seemingly on a roll, he didn’t stop there, daring Twitter to ban him for posting an image of two contradictory tweets by Canadian Prime Minister Justin Trudeau:
There’s a whiff of freedom in the air and it appears to be gaining momentum, at least in the US. It remains to be seen how things will turn out in Canada.
Author
Dale Warburton
Dale is a former attorney turned passionate Bitcoiner with an interest in investments, macro, geopolitics, innovation, tech, nature, wildlife, MMA and Bitcoin (of course).
