Pennsylvania lawmaker proposes banning public officials from trading Crypto Assets.

Golden Finance reported that Pennsylvania Democrat Representative Ben Waxman introduced a bill (HB1812) aimed at prohibiting public officials and their immediate family members from profiting through Crypto Assets during their term, including the issuance, promotion, or trading of digital assets in which they hold a financial interest. The bill stipulates that relevant individuals may not engage in Crypto Assets transactions exceeding $1,000 during their term and for one year after leaving office, and they must close all positions within 90 days after the bill takes effect. Violations could result in a 5-year prison sentence or a fine of up to $50,000. Waxman introduced this bill in response to the controversy surrounding Trump and his family being accused of profiting from public office.