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Pennsylvania lawmaker proposes banning public officials from trading cryptocurrency
Summary: According to reports, Pennsylvania Democratic Representative Ben Waxman has introduced a bill (HB1812) that aims to prohibit public officials and their immediate family members from profiting from cryptocurrency during their term, including issuing, promoting, or trading digital assets in which they have a financial interest. The bill stipulates that individuals in question are not allowed ...
According to reports, Pennsylvania Democratic Representative Ben Waxman has introduced a bill (HB1812) that aims to prohibit public officials and their immediate family members from profiting from cryptocurrency during their term, including issuing, promoting, or trading digital assets in which they have a financial interest. The bill stipulates that individuals in question are not allowed to conduct cryptocurrency transactions exceeding $1000 during their term and within one year of leaving office, must divest their holdings within 90 days of the bill taking effect. Violations could result in up to 5 years in prison or a maximum fine of $50,000. Waxman proposed this bill in response to controversies surrounding allegations of Trump and his family profiting from their public positions.
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