Self-custody of bitcoin will be a right in another US state

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A bill to protect the fundamental rights of Bitcoin users was approved by the Senate and House of Representatives of the state of Oklahoma, reported bitcoiner Dennis Porter and executive director of the organization Satoshi Action Fund. The new law guarantees the right to self-custody of digital currency, Bitcoin mining, running a full node and the freedom to buy, sell and exchange digital assets within the state, made it known Porter. This legislative initiative was promoted by Representative Brian Hill and Senator Bill Coleman, with the support of the Oklahoma Bitcoin Association. Porter highlighted the importance of the passage of this bill, noting that, Although the path to its approval was not easy, the support of citizens was important for its success.. “This is a crucial moment for Bitcoin in the United States and by coming together, we can ensure that these fundamental rights are solidified,” he highlighted. The bitcoiner and activist maintains that there are enough reasons to support this legislation, given recent attempts to attack self-custody by authorities. “There has never been a more important time to defend this inalienable right,” he asserted.

Samourai Wallet stopped and FBI asks for KYC

By attacks, Porter is referring to the recent arrests of Keonne Rodríguez and William Lonergan Hill, founders of Samourai Wallet, a Bitcoin wallet with multiple advanced privacy tools. The US justice system accuses them of allegedly conspiring to allow money laundering and to operate a money transmission business without a license, as reported by BitcoinDynamic. The legal action against Samourai Wallet included seizing servers and blocking its website in the US, along with its removal from the Google Play Store. The FBI also issued an alert to Bitcoin users, recommending avoiding services without know-your-customer (KYC) protocol, underscoring the risks associated with unlicensed money transmission operations. Porter argues that the capacity for self-custody is an inalienable right and essential for financial autonomy. «Without the ability to manage our own wealth and assets, we are no longer in control of our own destiny. “We can no longer forge a better path for ourselves and our families,” he said. With the approval of this law, Oklahoma joins other states in the United States that promote self-custody of bitcoin and cryptocurrencies, as well as the mining of the digital currency. This trend is reflected in Similar initiatives presented in the states of Ohio, South Carolina and Mississippi last February. The regulations are intended to protect the rights of people to hold cryptocurrencies in those states. In Ohio, the bill was sponsored by Representative Steve Demetriou under the name “Blockchain Basics Act.” In South Carolina, the initiative was introduced by Senator Danny Verdin as “Budget Bill S 1039” and in Mississippi, it was promoted by Representative Jody Steverson under the name “Blockchain Fundamentals Act.”