U.S. Lawmakers Disclose Cryptocurrency Investments Amid Growing Scrutiny
Several U.S. lawmakers are revealing their cryptocurrency investments, showcasing the growing presence of digital assets among government officials.
Rep. Guy Reschenthaler (R-Pa), 41, disclosed holdings in Ripple-linked XRP, Solana (SOL), and Bitcoin (BTC), with purchase amounts ranging from $1,000 to $15,000. Similarly, Rep. Mike Collins (R-Ga) reported buying Ski Mask Dog (SKI) earlier this year.
Other notable crypto investors in Congress include Barry Moore (R-Ala) and Jeffrey Jackson (D-NC), who have previously reported significant transactions. A 2021 Wall Street Journal report highlighted that 11 members of Congress owned cryptocurrencies, with the majority being House representatives.
READ MORE: More US Financial Advisors Lean Toward Crypto Investment Post-Trump Election
Meanwhile, the U.S. Senate is establishing a dedicated committee for digital assets, led by Sen. Cynthia Lummis (R-Wyo.). Lummis, a long-time Bitcoin supporter, introduced legislation proposing that the Treasury acquire one million Bitcoins over five years. She first purchased Bitcoin in 2013 and disclosed another buy in 2021.
Since 2018, lawmakers have been required to report cryptocurrency holdings exceeding $1,000 under House Ethics Committee rules. This transparency aims to ensure accountability and reveal any potential conflicts of interest. Critics like Sen. Elizabeth Warren (D-Mass) have voiced concerns, calling crypto investments a “terrible conflict of interest” and expressing relief that relatively few lawmakers hold digital assets.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
