Georgia Peach Flouts Crypto Disclosure Deadline
Lawmaker supportive of cryptocurrency fails to disclose Bitcoin holdings - Is Washington disregarding Bitcoin transparency?
Hey there! It's time to dive into the world of cryptocurrency and politics. Brandon Gill, a pro-crypto Republican Representative from Texas, caused a stir when he disclosed purchasing up to half a million dollars worth of Bitcoin after the 45-day deadline mandated by the Stop Trading on Congressional Knowledge Act (STOP Act). Oops!
According to Open Secrets, this tardy disclosure means that Gill missed the boat on the deadline window. However, he managed to get his act together for his subsequent purchases in May, with two transactions valued between $100K-$250K and $50K-$100K, respectively.
The big question? What happened in the first quarter of the year? Other lawmakers are keeping a close eye on Gill, especially those in the pro-crypto camp who've raised eyebrows over these early-year Bitcoin grab.
But it seems Gill isn't alone in his disregard for the disclosure laws. Unfortunately, over 62 representatives were found to have violated the disclosure law regarding stocks and digital assets in 2024, racking up a mere $200 fine each.
A Few Policymakers Dabble in Crypto Class
You might think that US lawmakers would be all-in on crypto, given their pro-crypto stances, but it turns out, only a smattering of politicians have cryptocurrency investments. In fact, only about 19 politicians, mostly Republicans, have Bitcoin and crypto-related stocks, according to data compiled by Bitcoin Politicians, covering disclosures from the past two years.
Vice President J.D. Vance, who made headlines for his reported $250K-$500K BTC haul, was amongst the bunch. But Senator Dave McCormick took the cake with a whopping $5 million Bitcoin stash, allegedly in Bitwise ETF. Excluding McCormick, US political leaders collectively owned less than $3 million in BTC as of January 2025, quite a far cry from their vocal support for the sector.
Interestingly, Vance recently threw his weight behind BTC, touting it as a hedge against bad policy, governance, and inflation. In a nutshell, he highlighted Bitcoin as a digital safe haven suitable for our modern, ever-evolving digital world. But Vance wasn't shy about acknowledging the risks associated with the fledgling technology, emphasizing that it should be given the chance to grow and prove itself through the capricious whims of the market.
So, there you have it! A brief peek into how some of our lawmakers are dabbling in the wild world of crypto while trying to balance their responsibilities as decision-makers and investors. Remember, cryptocurrency ain't for the risk-averse, so keep an eye on those transactions and disclosures!
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- The Representative from Texas, Brandon Gill, found himself in hot water for disclosing his Bitcoin purchase after the mandated 45-day deadline under the STOP Act.
- Despite the tardy disclosure, Gill was mindful of the deadline for his subsequent purchases in May, as he reported transactions valued between $100K-$250K and $50K-$100K.
- The crypto holdings of US lawmakers might surprise you – only about 19 politicians, mostly Republicans, have Bitcoin and crypto-related stocks, according to data from Bitcoin Politicians.
- Intriguingly, Vice President J.D. Vance, known for his reported BTC haul, and Senator Dave McCormick, with a $5 million Bitcoin stash, have joined this group of pro-crypto lawmakers.
