A US lawmaker is looking to ban government agencies from restricting the use of unhosted cryptocurrency wallets.

  • Representative Warren Davidson filed a bill that seeks to stop government agencies from imposing limitations on the use of convertible virtual currency for an owner’s personal and other purposes.
  • Should it be passed into law, the measure will also stop government agencies from banning users from making transactions through self-hosted wallets, which have been targeted by regulations made in the past year.
  • The measure comes as the US Treasury Department last year suggested the requirement of cryptocurrency exchanges to gather personal details of users who want to transfer their digital assets into a private wallet.

The proposal was made by former Treasury Secretary Steven Mnuchin, who was since been succeeded by Janet Yellen.

BTC is down 0.30%, ETH up 0.91%, and XRP down 0.49%.

Source: Coindesk