HB148, the Keep Your Coins Act of 2025, would bar heads of federal agencies from prohibiting or restricting a person’s use of convertible virtual currency to buy goods or services for their own use. The bill also defines key terms to ensure a clear, enforceable rule around CV currency use and self-custody.
In essence, it aims to remove government friction for personal CV currency use while leaving existing enforcement authorities intact.
At a Glance
What It Does
The head of a federal agency may not prohibit, restrict, or impair the ability of a covered user to use convertible virtual currency for personal purchases or to self-custody digital assets via a self-hosted wallet for lawful purposes.
Who It Affects
Individuals who obtain CV currency for personal use, and those employing self-hosted wallets to conduct transactions; federal agencies subject to the prohibition.
Why It Matters
It establishes a baseline for personal-use freedom in CV currency at the federal level, potentially accelerating adoption and influencing product design while raising questions about enforcement, oversight, and risk management.
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What This Bill Actually Does
The bill would explicitly bar federal agencies from blocking individuals from using convertible virtual currency to buy goods or services for their own use. It also protects the right to self-custody by allowing self-hosted wallets, provided the transactions are lawful.
To make the policy workable, HB148 defines what counts as convertible virtual currency, who is covered, and what a self-hosted wallet looks like, so agencies know the boundaries of permissible activity. Importantly, the bill does not create new currency status or commercial mandates; it simply removes government-imposed friction around personal CV currency use.
The result would be clearer, nationwide expectations for how individuals can transact with CV currency across federal interfaces and programs.
The Five Things You Need to Know
Section 2 bars heads of federal agencies from prohibiting or restricting a covered user’s use of convertible virtual currency for personal purchases.
It also protects self-custody by allowing self-hosted wallets to conduct transactions for lawful purposes.
A 'convertible virtual currency' is defined as having value equivalent to currency or serving as a substitute for currency.
A 'covered user' is someone who obtains CV currency to purchase goods or services for personal use.
A 'self-hosted wallet' is a digital interface where the owner retains independent control over their CV currency.
Section-by-Section Breakdown
Every bill we cover gets an analysis of its key sections.
Short title
This section establishes the bill’s official name: the Keep Your Coins Act of 2025. It signals the policy intent to protect personal use and self-custody of convertible virtual currency without changing currency status or broad regulatory authority.
Prohibition on restricting use of CV currency; definitions
Section 2 forbids the head of a federal agency from prohibiting or restricting a covered user’s ability to use CV currency for personal purchases or to self-custody via a self-hosted wallet. It defines key terms—convertible virtual currencies, covered user, and self-hosted wallet—to create a clear scope for what is protected and what constitutes lawful use.
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Explore Finance in Codify Search →Who Benefits and Who Bears the Cost
Every bill creates winners and losers. Here's who stands to gain and who bears the cost.
Who Benefits
- Consumers who hold convertible virtual currency and want to pay for goods and services with it for personal use, without federal gatekeeping.
- Self-custody advocates and users who prefer retaining control over their assets through self-hosted wallets.
- Crypto wallet developers and fintechs offering self-hosted wallet solutions, as the policy lowers friction to use and promotes custody independence.
- Merchants and online platforms that accept CV currency as a form of payment may see smoother consumer adoption and reduced friction in compliance with federal rules.
Who Bears the Cost
- Federal agencies will need to adjust policies, training, and compliance monitoring to align with the new prohibition.
- Regulatory and oversight bodies may need to reinterpret or update frameworks to reflect the definitions and scope of CV currency and self-hosted wallets.
- Businesses that previously relied on restrictive practices to manage risk may face higher exposure and must update risk assessments, compliance processes, and vendor controls.
- Tax authorities and financial data systems may need to adapt to more widespread CV currency transactions and related reporting obligations.
Key Issues
The Core Tension
Balancing individual freedom to use CV currency for personal transactions with the government's interest in preventing misuse and maintaining appropriate financial oversight.
The bill’s simplicity hides meaningful policy tensions. On one hand, it expands personal freedom to use convertible virtual currency and to self-custody assets, potentially accelerating consumer adoption and product innovation.
On the other hand, intensified use of CV currency raises questions about anti-money-laundering controls, consumer protection, and tax enforcement that federal agencies and regulators would need to monitor within existing statutes. The definitions—especially what constitutes ‘own use’ and the scope of ‘lawful purpose’—could invite interpretive disputes as agencies implement the rule.
While the bill curtails government friction, it does not provide a comprehensive regulatory framework for CV currency markets, oversight, or interoperability with state law.
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