The proposed “Keep Your Coins Act” in the US shows how right regulation could go and how that would even be bullish for Crypto.

Just today the congressman Warren Davidson introduced The Keep Your Coins Act in the United States. Obviously that’s just a proposal so nothing is done yet. But it gives a blink of how right the regulation could go for Crypto and why that’s even bullish.

The Act comes due to the recent events in Canada. After the government there revoked emergency state and can now freely freeze any bank acc. He himself afterwards said that Bitcoin would fix this with its self custody and peer to peer transactions.

That’s exactly what this bill is about. Protecting those both abilities of Crypto from the government. Through self costudy the government won’t be able to freeze your account. You may think the government even now can’t do that. But the truth is that your money is one “emergency act” away from becoming the governments.

So basically the bill, if passed could protect cryptos advantages for users from the government of the United States and people would be the owner of their own wealth.

PS: Not intended to glorify any poltician or political institutions.

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5 thoughts on “The proposed “Keep Your Coins Act” in the US shows how right regulation could go and how that would even be bullish for Crypto.”

  1. It’s a fine line between privacy and ownership and not being able to find terrorist organisations. I’m always conflicted with these kinds of situations.

    The fact that this bill makes it so a government can’t freeze your crypto is def. a good thing. Correct legislation can go a long way.

  2. The fact that they wouldn’t be able to freeze crypto is obviously good, the issue lies w/ how you’re going to off-ramp. Until crypto is used as actual currency to pay for goods, you’ll need to sell for fiat & transfer to a bank account, which is where they could potentially freeze things.

  3. They can’t freeze shit if its decentralized. That’s why the future is there. Cexs and centralized blockchains that dont provide any kind of privacy are not the future.

  4. Honest question. I have a ledger where I store roughly 80% of my portfolio. I have no clue what my seed phrase is but it is stored in multiple places in steel. How would anyone ‘freeze’ my coins in this case? There is nothing to seize, they don’t know my seed (and I can’t be compelled to share something I don’t know). They could freeze my bank accounts making cashing out a hassle but unless I am missing something this bill doesn’t really do anything because they can’t take this kind of action against me anyway right?


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