Democrat MP Alexandria Ocasio-Cortez said on Monday that she avoids any investment that could pose a conflict of interest, including cryptocurrency, and believes participating lawmakers should do the same.

She explained that as a member of the House Finance Committee, she considered it unacceptable for her to own bitcoin (BTC) or other digital assets because lawmakers have access to “sensitive information and upcoming guidelines.”

“I don’t think members of Congress should hold / trade individual stocks, and I have chosen not to hold any of them until I remain neutral in policy making,” said AOC. “I also extend it to cryptoassets / currencies […] I want my work to be as ethical and neutral as possible.”

Screenshot from AOC Instagram Stories
AOC, a progressive lawmaker who has served in the U.S. government since 2019, has called on wealthy people to pay more federal taxes, spoke out about sexism in Congress, and called for a write-off of student loan arrears. She is also a member of a six-member home group commonly known as the “Squad”.

While members of Congress are allowed to buy, sell, and trade stocks and other investments during their tenure, they are also bound by the Knowledge Trading End Act or the Securities Act, passed in 2012, which requires them to report purchases and sales. … Or exchange more than $ 1000 within 30-45 days. However, several federal judges and lawmakers allegedly violated the law by not disclosing information about certain investments.

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When it comes to cryptocurrencies in the hands of members of Congress, it looks like it’s an investment tracking option using a publicly available blockchain database so that the House and Senate administration doesn’t put legislators in a position where they can identify cryptocurrency and blockchain. if they are viewed as a conflict of interest. Senator Cynthia Loomis announced the purchase of bitcoins between $ 50,001 and $ 100,000 in August. Although Senator Loomis was an outspoken supporter of cryptocurrency before he was sworn in, she still serves on the Senate Banking Committee.

Source: CoinTelegraph

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