Ban on Digital Asset Trading for Lawmakers and Candidates
New rules aim to prevent conflicts of interest by prohibiting politicians and federal candidates from owning or trading digital assets. This is intended to increase public trust and ensure legislative decisions are not driven by personal investment gains. Citizens can expect greater transparency in their representatives' finances.
Key points
Politicians and federal candidates cannot buy, sell, or hold digital assets (e.g., cryptocurrencies) during their term, election campaigns, and for one year after leaving office.
Existing digital assets can be placed in a special, ethics-office-approved blind trust, which must divest them within 6 months.
Violations can lead to significant financial penalties (up to $250,000) and disgorgement of profits, and in cases of large losses to others or substantial personal benefit, even imprisonment.
Information about politicians' blind trusts will be publicly available, increasing financial transparency.
Status:
Introduced
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