#CongressTradingBan The US Congress is considering a ban on stock trading for its members, which could potentially extend to cryptocurrencies. This move aims to prevent conflicts of interest and insider trading, ensuring lawmakers prioritize the public's interests over personal financial gain.

*Key Developments:*

- *Biden's Support*: President Joe Biden has expressed support for banning congressional stock trading, stating that lawmakers shouldn't make money in the stock market while serving.

- *Bipartisan Efforts*: Proposed legislation has gained traction, with bipartisan support in both the House and Senate, to prohibit members of Congress from trading stocks, securities, commodities, and potentially cryptocurrencies.

- *Existing Disclosure Requirements*: Under the 2012 Stop Trading on Congressional Knowledge (STOCK) Act, lawmakers are already required to disclose financial holdings, including crypto assets.

*Potential Impact on Crypto Market:*

- *Regulatory Clarity*: A ban on congressional stock trading could lead to clearer regulations on cryptocurrencies, potentially reducing market volatility.

- *Conflict of Interest*: Lawmakers with significant crypto holdings might face scrutiny, and a ban could help ensure impartial decision-making.

*Notable Crypto Holdings by Lawmakers:*

- *Senator Cynthia Lummis*: Disclosed Bitcoin holdings and proposed legislation for a strategic Bitcoin reserve.

- *Representative Mike Collins*: Reported investments in Ethereum and altcoins.

- *Former President Donald Trump*: Holds tens of millions of dollars worth of crypto in personal wallets ¹ ².