US Congressman reveals cryptocurrency trading
The most recent member of Congress to disclose their investment in digital assets is United States House Representative Guy Reschenthaler.
According to disclosures that were recently filed, Reschenthaler has investments in Bitcoin (BTC), Solana (SOL), and XRP. The filings suggest that his Congress transaction was between $1,000 and $15,000.
These investments occur in the context of increased volatility in the cryptocurrency market, as Bitcoin continues to struggle to surmount the $100,000 resistance level.
The token has emerged from a protracted period of consolidation below $1, with the potential for additional gains, particularly if the forthcoming Securities Exchange Commission (SEC) chief advocates for a lenient resolution in the Ripple case.
Nevertheless, the general market sentiment remains optimistic, as a result of the victory of pro-crypto President Donald Trump in the post-election period.
It is crucial to emphasize that Reschenthaler is not operating independently in his cryptocurrency endeavors. For example, Representative Mike Collins disclosed an investment in the Ski Mask Dog (SKI) meme cryptocurrency earlier this year.
Collins is one of the most active cryptocurrency speculators in Congress, having invested nearly $400,000 in digital assets since December 2023. His portfolio comprises Ethereum (ETH), Aerodrome (AERO), The Graph (GRT), and Velodrome (VELO), with certain investments being characterized as “insane.”
Bitcoin is also a topic of fascination for lawmakers Barry Moore and Jeffrey Jackson.
According to reports, the number of Congress members who have invested in digital assets has surpassed ten in recent years. Nevertheless, this figure is still relatively low in comparison to the number of individuals who maintain stock portfolios.
The United States continues to struggle with a lack of comprehensive cryptocurrency regulations, despite the fact that legislators are demonstrating an inclination toward digital assets.
There is speculation that the impending Trump administration may implement more favorable policies for the sector, such as the proposed Bitcoin reserve. Such an environment has the capacity to initiate a price increase.
The implementation of new transparency laws necessitated that legislators disclose their cryptocurrency holdings beginning in 2018. Consequently, the number of politicians who were involved in digital assets prior to this requirement remains uncertain.
The ethical implications of elected officials possessing cryptocurrencies continue to be a source of concern, despite the existence of these regulations.
In order to achieve this, Massachusetts Senator Elizabeth Warren, who is a vocal opponent of digital assets, has characterized the investment of legislators in crypto as “a horrible conflict of interest.”
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