Cobra, the owner of Bitcoin.org, has expressed concerns about the possibility of the U.S. government outlawing self-custody of Bitcoin (CRYPTO:BTC).
He believes such a move could restrict individuals from holding Bitcoin without using a custodial service.
Drawing comparisons to past regulations, Cobra suggests that bitcoin self-custody might face similar restrictions to private ownership of gold in the U.S. during the 1930s.
While some, like Dennis Porter, advocate for protecting cryptocurrency rights at the state level, others question the practicality of enforcing such regulations given bitcoin's fundamental purpose of enabling secure private ownership.