Tuesday, March 21, 2023
No Result
View All Result
Blockchain Daily Report
Advertisement
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS
Crypto Marketcap
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS
Crypto Marketcap
Logo
No Result
View All Result
Home Crypto Updates

Crypto Self-Custody Is Antidote to FTX Fraud — ‘Keep Your Coins Act’ Will Protect Self-Hosted Wallets – Regulation Bitcoin News

by Blockchain Daily Report
December 22, 2022
in Crypto Updates
Reading Time: 4 mins read
A A
0
Crypto Self-Custody Is Antidote to FTX Fraud — ‘Keep Your Coins Act’ Will Protect Self-Hosted Wallets – Regulation Bitcoin News
Share on FacebookShare on Twitter


U.S. Congressman Warren Davidson has touted the self-custody of cryptocurrencies because the antidote to crypto trade FTX’s fraud. He’s pushing for his invoice known as “Hold Your Cash Act,” which goals to “shield self-custody from misguided makes an attempt to limit it.”

U.S. Lawmaker Pushes for Self-Custody

Congressman Warren Davidson (R-Ohio) has touted crypto self-custody following the collapse of cryptocurrency trade FTX. He tweeted Wednesday:

Self-custody is the antidote to FTX’s fraud and my Hold Your Cash Act would shield self-custody from misguided makes an attempt to limit it.

“Anybody attacking self-custody is telling you they oppose particular person freedom,” the lawmaker added.

Responding to a query on Twitter about why new legal guidelines are wanted if individuals can already self custody at this time, the congressman replied:

Present and former Treasury secretaries have mentioned banning what they name ‘self-hosted wallets’ — self-custody. Senator Elizabeth Warren and quite a few different members of Congress have proposed bans. We have to positively shield it to defend freedom — just like the Invoice of Rights.

The congressman from Ohio introduced his “Hold Your Cash Act” in February. Noting that the invoice seeks to “protect People’ proper to privateness in transacting with crypto belongings,” the lawmaker defined on the time that “Particularly, this laws would prohibit any federal company from promulgating a rule that might impair an individual’s means to behave as self-custodian.”

Senator Elizabeth Warren unveiled a invoice titled “Digital Asset Anti-Cash Laundering Act” final week. In accordance with crypto advocates, it’s “probably the most direct assault on the non-public freedom and privateness of cryptocurrency customers and builders we’ve but seen.”

Final week, Davidson stated he believes former FTX CEO Sam Bankman-Fried (SBF) was arrested earlier than the Home and Senate hearings passed off as a result of the Securities and Trade Fee (SEC) and different regulators “didn’t wish to give Congress a chance to ask SBF about their failed oversight.”

One lawmaker who lately prompt that crypto might be banned is Senator Sherrod Brown (D-Ohio), the chairman of the Senate Banking, Housing, and City Affairs Committee. Nevertheless, he acknowledged that banning crypto “may be very tough as a result of it’ll go offshore and who is aware of how that may work.”

Commenting on Senator Brown’s banning crypto suggestion, Rep. Davidson tweeted:

Ohio wants a brand new Senator, the Senate Banking Committee wants a brand new Chairman, and Congress wants to know its failure to behave is actively exposing customers, buyers, and innovators to avoidable danger.

Senator Pat Toomey (R-PA), rating member of the Senate Banking Committee, concurred with Davidson. He has harassed that the concept of banning crypto is “profoundly misguided, to not point out unimaginable.” The senator from Pennsylvania emphasised: “In need of enacting draconian, authoritarian insurance policies, cryptocurrency can’t be stopped. If we tried, the know-how would merely migrate offshore.”

What do you concentrate on the feedback by Congressman Warren Davidson concerning the self-custody of cryptocurrencies? Tell us within the feedback part under.

Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source methods, community results and the intersection between economics and cryptography.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It isn’t a direct supply or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, providers, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, straight or not directly, for any harm or loss triggered or alleged to be brought on by or in reference to the usage of or reliance on any content material, items or providers talked about on this article.

Extra Standard Information

In Case You Missed It



Source link

Tags: ActAntidoteBitcoinCoinsCryptofraudFTXNewsProtectRegulationSelfCustodySelfHostedwallets
Share76Tweet47

Related Posts

FL Gov. DeSantis Proposes Ban on Central Bank Digital Currency Use as Money – Bitcoin News

FL Gov. DeSantis Proposes Ban on Central Bank Digital Currency Use as Money – Bitcoin News

by Blockchain Daily Report
March 21, 2023
0

Governor Ron DeSantis of the U.S. state of Florida has proposed laws to ban the usage of central financial institution...

Venezuela To Restructure Its Crypto Department

Venezuela To Restructure Its Crypto Department

by Blockchain Daily Report
March 20, 2023
0

Nicolas Maduro, Venezuela’s president, has determined to restructure and reorient the Nationwide Superintendency of Crypto Belongings. The decree was issued...

Is There an Operation to Bring Down Crypto?

Is There an Operation to Bring Down Crypto?

by Blockchain Daily Report
March 20, 2023
0

If somebody said that there was a clandestine plot to fatally impede the crypto trade within the US, being executed...

Market Maker DWF Labs Invests $20M in Derivatives Trading Platform Synthetix

Market Maker DWF Labs Invests $20M in Derivatives Trading Platform Synthetix

by Blockchain Daily Report
March 20, 2023
0

Please word that our privateness coverage, phrases of use, cookies, and don't promote my private data has been up to...

China Will Become a Metaverse Tech Leader During 2023 – Metaverse Bitcoin News

China Will Become a Metaverse Tech Leader During 2023 – Metaverse Bitcoin News

by Blockchain Daily Report
March 20, 2023
0

A report issued by Globaldata, a world consulting and information evaluation firm, predicts that China will develop into a number...

Load More
  • Trending
  • Comments
  • Latest
FL Gov. DeSantis Proposes Ban on Central Bank Digital Currency Use as Money – Bitcoin News

FL Gov. DeSantis Proposes Ban on Central Bank Digital Currency Use as Money – Bitcoin News

March 21, 2023
Florida Governor Proposes Legislation To Ban Central Bank Digital Currency CBDC

Florida Governor Proposes Legislation To Ban Central Bank Digital Currency CBDC

March 21, 2023
Australian Bankers Association cost of living probe shows bank pressure

Australian Bankers Association cost of living probe shows bank pressure

March 20, 2023
Creators Behind Web3 Game Aavegotchi Raise $30M in Multiyear Token Sale

Creators Behind Web3 Game Aavegotchi Raise $30M in Multiyear Token Sale

March 20, 2023
Venezuela To Restructure Its Crypto Department

Venezuela To Restructure Its Crypto Department

March 20, 2023
Avenged Sevenfold Deathbats Link with Ticketmaster

Avenged Sevenfold Deathbats Link with Ticketmaster

March 21, 2023
Lido’s Staked Ethereum Token STETH Reaches $10.3B Market Capitalization, Ranks Ninth by Market Valuation – Defi Bitcoin News

Lido’s Staked Ethereum Token STETH Reaches $10.3B Market Capitalization, Ranks Ninth by Market Valuation – Defi Bitcoin News

March 20, 2023
FinGoal Secures New Funding in Round Led by Naples Technology Ventures

FinGoal Secures New Funding in Round Led by Naples Technology Ventures

March 20, 2023
Facebook Twitter Instagram Youtube RSS

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Blockchain Daily Report.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Mining
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 Blockchain Daily Report.
Blockchain Daily Report is not responsible for the content of external sites.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS

Copyright © 2022 Blockchain Daily Report.
Blockchain Daily Report is not responsible for the content of external sites.

  • bitcoinBitcoin(BTC)$28,151.001.95%
  • ethereumEthereum(ETH)$1,765.03-0.05%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.010.23%
  • binancecoinBNB(BNB)$338.280.47%
  • usd-coinUSD Coin(USDC)$1.000.01%
  • rippleXRP(XRP)$0.3866520.53%
  • cardanoCardano(ADA)$0.3439310.82%
  • staked-etherLido Staked Ether(STETH)$1,760.58-0.04%
  • matic-networkPolygon(MATIC)$1.13-0.82%