Sec. 802. Prohibition on restricting use of convertible virtual currency by a person to purchase goods or services for the person’s own use
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/bill/119/s/809/is/section-802A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No Federal agency head may prohibit or otherwise restrict the ability of a covered user to— 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 conduct transactions through a self-hosted wallet. In this section: The term convertible virtual currencies means a medium of exchange that— has an equivalent value as currency (as defined in section 1010.100 of title 31, Code of Federal Regulations (or successor regulations)); or acts as a substitute for currency but may not possess all the attributes (including legal tender status) specified under such section 1010.100.
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. The term self-hosted wallet means an interface— used to secure and transfer convertible virtual currency; and under which the owner of convertible virtual currency retains independent control over such convertible virtual currency that is secured by such digital interface.