Crypto Lawmaker Misses Disclosure Deadline
Pro-Crypto Lawmaker's Delayed Bitcoin Disclosure
Republican Texas Representative Brandon Gill recently disclosed Bitcoin [BTC] purchases well past the mandated deadline. A disclosure report reveals purchases totaling up to $500,000 in January and February, violating the 45-day reporting window under the Stop Trading on Congressional Knowledge Act (STOCK Act).
While Gill subsequently made further BTC purchases in May ($100,000-$250,000 and $50,000-$100,000) within the reporting window, the late disclosure of his Q1 transactions has drawn criticism. According to Open Secrets, over 62 representatives violated disclosure laws in 2024, incurring only a $200 fine.
Limited Crypto Exposure Among US Lawmakers
Data suggests surprisingly limited cryptocurrency ownership among US politicians. While roughly 19 politicians, primarily Republicans, have disclosed Bitcoin and crypto-related stock holdings over the past two years (source: Bitcoin Politicians), the total value remains relatively low. A January 2025 Reuters report indicated less than $3 million in BTC holdings amongst American political leaders, excluding Senator Dave McCormick, who reported owning $5 million in BTC, mostly held in a Bitwise ETF.
This limited exposure contrasts with the vocal pro-crypto stance of many Republicans, including Vice President J.D. Vance, who has publicly endorsed Bitcoin as a hedge against inflation and poor governance. However, even Vance's reported holdings fall within the $250,000-$500,000 range.
Need for Increased Transparency
The inconsistencies between public pro-crypto sentiment and relatively low levels of actual ownership, combined with instances of late disclosures, underscore the need for greater transparency in the financial dealings of elected officials. This is crucial for maintaining public trust and ensuring fair and unbiased policymaking in the evolving cryptocurrency sector.
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