Pennsylvania lawmaker proposes ban on cryptocurrency trading by public officials

According to Jinse Finance, Pennsylvania Democratic Representative Ben Waxman has introduced a bill (HB1812) aimed at prohibiting public 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 individuals are not allowed to conduct cryptocurrency transactions exceeding $1,000 during their term and for one year after leaving office, and must liquidate their holdings within 90 days of the bill taking effect. Violations may result in up to five years of imprisonment or a maximum fine of $50,000. Waxman introduced this bill in response to controversies surrounding allegations that Trump and his family profited from public office.