Bill
Bill > S3229
US S3229
US S3229A 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
11/06/2023
In Committee
11/06/2023
11/06/2023
Crossed Over
Passed
Dead
01/03/2025
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)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/3229/all-info |
| BillText | https://www.congress.gov/118/bills/s3229/BILLS-118s3229is.pdf |
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