Senator Ted Budd, along with Senator Mike Lee, reintroduced the Keep Your Coins Act to protect Americans' rights to control their digital assets and ensure their ability to manage their crypto freely without government interference.

Led by Utah Sen. Mike Lee, Republican lawmakers are advocating for laws to prevent government surveillance of cryptocurrency transactions, emphasizing the importance of financial privacy.

Budd emphasized that self-custody is crucial for financial freedom within the digital asset ecosystem, advocating support for legislation that prevents federal agencies from impairing these rights.

This is Senator Budd’s second attempt to introduce the Keep Your Coins Act, having previously proposed similar legislation in 2023.

The Keep Your Coins Act also prohibits federal agencies from imposing rules on how individuals use their digital assets and restricts third-party organizations or banks from controlling these transactions, reinforcing the push for decentralization.

In a related move, the House recently passed a bill banning the Federal Reserve from directly issuing central bank digital currency to individuals, reflecting a broader Republican stance against government oversight of digital money.

Additional efforts include the introduction of the National Education Association Charter Repeal Act by Rep. Mark Harris and Sen. Marsha Blackburn, aiming to revoke the NEA's congressional charter.

This legislation aligns with Republican efforts to limit federal involvement in the cryptocurrency sector, emphasizing a move toward a more decentralized financial ecosystem.

Meanwhile, critics like Harris have accused the NEA of prioritizing partisan agendas over supporting teachers and students, highlighting recent votes against President Trump and in favor of promoting LGBTQ events in schools.

Senator Lee has argued that Americans should not be forced to manage their crypto assets under government oversight, underscoring the need for privacy protections.

The Keep Your Coins Act aims to prevent federal government access and surveillance of digital asset transactions, ensuring individuals retain control over their crypto assets.

This legislation also empowers individuals to use self-hosted wallets, maintaining control over their digital assets without third-party interference.