U.S. Senator Mike Lee (R-UT) has joined Senator Tedd Budd (R-NC) in cosponsoring the Keep Your Coins Act, a legislative effort aimed at allowing Americans to retain self-custody of their crypto assets. The bill is designed to protect financial privacy and prevent what its sponsors describe as burdensome regulations and third-party custodianship.
“Americans deserve to keep their crypto assets where they choose – not where they’ve been forced by the federal government,” said Senator Mike Lee. “Washington’s dragnet-style surveillance has eroded the financial privacy of law-abiding Americans for decades. I’m proud to join Senator Budd’s Keep Your Coins Act to protect Americans’ privacy and ability to maintain self-custody of crypto assets.”
Senator Budd added, “Self-custody is a founding principle of the digital asset ecosystem and needs to be protected. I introduced the Keep Your Coins Act of 2025 to ensure the federal government cannot infringe on a person’s ability to control their own digital assets. If cryptocurrencies are going to be digital cash, we need to protect a person’s right to hold their digital cash however they want. I urge my colleagues to support this common-sense legislation to ensure financial freedom for the digital asset ecosystem.”
The legislation has received support from major wallet platforms including Exodus, Ledger, Casa, Block, MetaMask, and Uniswap. In a joint statement, these companies said: “As leading providers of self-custodial wallets, we applaud Senator Budd’s introduction of the Keep Your Coins Act, which mirrors Congressman Davidson’s bill in the House. This crucial legislation protects individuals’ fundamental right to own digital property by safeguarding against regulatory overreach. We look forward to continuing to support this legislation and establishing the United States as a haven for financial autonomy and economic freedom.”
The proposed act would prohibit any federal agency from creating rules that restrict an individual’s ability to act as a self-custodian for digital assets. It also aims to protect peer-to-peer transactions without requiring third-party intermediaries and supports maintaining control over digital assets through self-hosted wallets.
