118 S3229 IS: To prohibit Federal agencies from restricting the use of convertible virtual currency by a person to purchase goods or services for the person’s own use, and for other purposes.
U.S. Senate
2023-11-06
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EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
1.Prohibition on restricting use of convertible virtual currency by a person to purchase goods or services for the person’s own use(a)No agency head may prohibit or otherwise restrict the ability of a covered user to—(1)use virtual currency or its equivalent for such user’s own purposes, such as to purchase real or virtual goods and services for the user’s own use; or(2)conduct transactions through a self-hosted wallet.(b)In this section:(1)Convertible virtual currenciesA medium of exchange that—(A)has an equivalent value as currency (as defined in section 1010.100 of title 31, Code of Federal Regulations (or successor regulations)); or(B)acts as a substitute for currency but may not possess all the attributes (including legal tender status) specified under such section 1010.100.(2)The term covered user means a person that obtains convertible virtual currency to purchase goods or services on that person’s own behalf, without regard to the method in which such covered user obtained such convertible virtual currency. (3)The term self-hosted wallet means an interface—(A)used to secure and transfer convertible virtual currency; and(B)under which the owner of convertible virtual currency retains independent control over such convertible virtual currency that is secured by such digital interface.