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.
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