Pennsylvania lawmaker proposes banning government officials from trading cryptocurrencies
2025-08-21 22:26:56
Representative Ben Waxman, Democrat of Pennsylvania, introduced a bill (HB1812) that would prohibit government officials and their immediate family members from profiting from cryptocurrencies during their term of office, including issuing, promoting, or trading digital assets in which they hold a financial interest. The bill stipulates that relevant persons shall not conduct cryptocurrency transactions exceeding $1,000 during their term of office and within one year of leaving office, and must clear their holdings within 90 days of the bill's entry into force. Aggravating violations can be punishable by five years in prison or a fine of up to $50,000. Waxman proposed the bill in response to the controversy over Trump and his family's alleged use of public office for profit.
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