Proposed Bill Aims to Counter Unhosted Crypto Wallet Rule

Unhosted Crypto Wallet Rule

A US bill has been put forward to lift restrictions on the use of self-hosted cryptocurrency wallets, which has caused debate for the past year.

The proposal was introduced by Ohio representative and member of the Blockchain Caucus, Warren Davidson, on February 15.

The bill would restrict agencies from preventing the use of convertible digital assets to buy goods and access services if it sails through.

The use of self-hosted digital asset wallets has been a target of the US regulatory agencies over the past year.

The policy was championed by the former US Treasury Secretary Steven Mnuchin, who was succeeded by Janet Yellen. Yellen has not ruled out the possibility of the rule being implemented.

Source: Coindesk

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