Members of the United States House of Representatives and Senate as well as Supreme Court justices currently trading cryptocurrencies may have to stop hodling while in office should a bill get enough votes.
According to a framework released on Thursday, chair of the Committee on House Administration Zoe Lofgren — responsible for the day-to-day operations of the House — said she had a “meaningful and effective plan to combat financial conflicts of interest” in the U.S. Congress by restricting the financial activities of lawmakers and SCOTUS justices, as well as those of their spouses and children. The bill, if passed according to the framework, would suggest a change in policy following the 2012 passage of the Stop Trading on Congressional Knowledge Act, or STOCK Act, allowing members of Congress to buy, sell and trade stocks and other investments while in office, but also requiring them to disclose such transactions.
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