#CongressTradingBan A proposed legislative framework aims to prohibit U.S. lawmakers and Supreme Court justices from trading cryptocurrencies while in office, addressing potential conflicts of interest. Spearheaded by Representative Zoe Lofgren, the initiative seeks to extend the 2012 STOCK Act by restricting investments in digital assets, commodities, and futures for officials and their immediate families. The goal is to restore public trust by ensuring that officials act in the public interest rather than personal financial gain.
The debate has intensified following high-profile crypto ventures by political figures, including former President Donald Trump's involvement in NFTs and stablecoins. Democratic Representative Sam Liccardo introduced the MEME Act, aiming to ban senior officials from issuing or endorsing cryptocurrencies, citing concerns over transparency and potential foreign influence. While the bill faces challenges in the current political climate, it underscores the growing scrutiny of crypto activities among public officials.
