The framework to prohibit members of Congress and the TSE from trading in shares includes a provision on cryptocurrencies
Members of the United States House of Representatives and Senate, as well as Supreme Court justices who currently trade cryptocurrencies, may have to stop investing while in office if a bill gets enough votes.
In a framework released Thursday, House Administration Committee Chairwoman Zoe Lofgren, who is 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 United States Congress, restricting the financial activities of legislators and Supreme Court justices, as well as those of their spouses and children. The bill, if passed according to the framework, would suggest a policy change following the 2012 passage of the Stop Trading With the Knowledge of Congress, or STOCK Act, which allows members of Congress to buy, sell and trade in stocks and other investments while in office, but also requires them to disclose such transactions.
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“Congress can act to restore the public’s faith and confidence in its public officials and ensure that these officials act in the public interest, not in their personal financial interest, by restraining senior government officials – including members of Congress and the Supreme Court – and their spouses and dependent children from trading in stocks or holding investments in securities, commodities, futures, cryptocurrencies, and other similar investments, as well as short selling stocks,” Lofgren said.