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Bill > S3229


US S3229

US S3229
A bill to prohibit Federal agencies from restricting the use of convertible virtual currency by a person to purchase goods or services for the person's own use, and for other purposes.


summary

Introduced
11/06/2023
In Committee
11/06/2023
Crossed Over
Passed
Dead
01/03/2025

Introduced Session

118th Congress

Bill Summary

A BILL To prohibit Federal agencies from restricting the use of convertible virtual currency by a person to purchase goods or services for the person’s own use, and for other purposes.

AI Summary

This bill prohibits federal agencies from restricting a person's ability to use convertible virtual currency, such as cryptocurrency, to purchase goods or services for their own personal use, or to conduct transactions through a self-hosted wallet. Convertible virtual currency is defined as a medium of exchange that has an equivalent value as traditional currency or acts as a substitute for it, even if it may not have all the attributes of legal tender. A "covered user" is a person who obtains convertible virtual currency to purchase goods or services on their own behalf, regardless of how they obtained the currency. A "self-hosted wallet" is an interface used to secure and transfer convertible virtual currency, where the owner retains independent control over the currency.

Committee Categories

Housing and Urban Affairs

Sponsors (2)

Last Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 11/06/2023)

bill text


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