Democratic lawmaker Alexandria Ocasio-Cortez stated Monday that she avoids any and all investments which might probably symbolize a battle of curiosity, together with crypto — and believes her fellow lawmakers ought to do the identical.
She defined that as a member of the Home of Representatives’ Monetary Companies Committee, she felt it was inappropriate for her to carry Bitcoin (BTC) or different digital belongings, as a result of lawmakers have entry to “delicate info and upcoming coverage.”
“I don’t consider members of Congress ought to maintain/commerce particular person inventory and I select to not maintain any so I can stay neutral about coverage making,” stated AOC. “I additionally lengthen that to digital belongings/currencies […] I wish to do my job as ethically and impartially as I can.”
AOC, a progressive lawmaker who has served within the U.S. authorities since 2019, has advocated for rich people to pay extra in federal taxes, spoken out on sexism in Congress, and referred to as for the cancellation of pupil mortgage debt. She can also be a member of a gaggle of six Home members identified colloquially as ‘The Squad’.
Although members of Congress are permitted to purchase, promote, and commerce shares and different investments whereas in workplace, they’re additionally certain by the Cease Buying and selling on Congressional Information Act, or STOCK Act, handed in 2012, which requires them to report any buy, sale, or change over $1,000 inside 30 to 45 days. Nonetheless, many federal judges and lawmakers have reportedly flouted the law by not disclosing sure investments.
Within the case of crypto within the arms of congressional members, it could appear to be an choice to trace investments utilizing a public blockchain database, so each Home and Senate management might keep away from inserting lawmakers ready the place they might be figuring out coverage on crypto and blockchain if considered as a battle of curiosity. Senator Cynthia Lummis has reported buying BTC value between $50,001 and $100,000 in August, however regardless of being brazenly pro-crypto earlier than being sworn into workplace, served on the Senate Banking Committee.