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Author Topic: First Time Ever US Congressman Unveils his Crypto Holdings  (Read 430 times)

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First Time Ever US Congressman Unveils his Crypto Holdings
« on: August 10, 2018, 02:49:20 PM »


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Cryptocurrencies, namely bitcoin, bitcoin cash and ethereum, are becoming accepted in the halls of power of Washington D.C., which is confirmed by several events. Firstly, the head of the House Judiciary Committee Bob Goodlatte declared that he owned cryptocurrency. According to his report published on May 10, 2018, he had up to $80,000 in Bitcoin, Bitcoin Cash, and Ethereum.

Goodlatte’s son, Bobby Goodlatte Jr., like his father, sees enough potential in digital currencies. He invests in cryptocurrency wallet provider and exchange Coinbase, but it is not known when or how much he invested.


Secondly, after this disclosure, in late June of this year, the House Ethics Committee issued a memo to all members, officers, and employees of the House of Representatives, advising to reveal publicly their cryptocurrency ownership in annual reports the same way they disclose other assets. The memo states


The Committee has also decided to “consider cryptocurrencies other forms of securities for purposes of the EIGA and financial disclosure with respect to individuals who are subject to financial disclosure requirements and who file their reports with the Clerk of the House.”

Another Senator Mark Warner supported cryptocurrencies in a hearing of the Senate Banking, Housing and Urban Affairs Committee in early 2018



In 2016, it was reported that cryptocurrency played its role in Russia’s meddling of theU.S Presidential Elections. As a result, a member of the House of Representatives Emmanuel Cleaver called on the government to probe the cryptocurrency industry.

Many critics have for a long time seen cryptocurrencies as a tool for fraudulent activities, but now their mind can change, as governments in many countries embark upon serious consideration of digital currencies and their regulation.


 

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