Ohio will introduce a new law to limit the government’s reach on cryptocurrencies

In Ohio, Eighth Congressman Warren Davidson expressed concern and dissatisfaction with current U.S. law. Yesterday, he introduced a bill called “Keep Your Coins,” in which he advocated an emergency to limit the government’s reach to the personal crypto accounts of the state’s citizens. The mentioned name of the submitted law is a so-called verbal toy with the initials KYC (Know-Your-Customer), which recalls the importance of investor protection.

At the moment, we have no idea when the proposal will pass and whether it will happen to be necessary for further control before its adoption. However, it is certain that such a curtain would clearly help to protect the funds of every cryptocurrency holder. North of the United States, Canada has again passed an “emergency law,” which authorizes national banks to freeze any funds in any account. Warren Davidson criticized the bill on his Twitter, adding that “Our office will soon introduce legislation in the US House of Representatives to protect Americans from this version of blatant theft.”