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Pennsylvania lawmaker proposes banning public officials from trading Crypto Assets.
According to a report by Jinse Finance, Pennsylvania Democratic Representative Ben Waxman has introduced a bill (HB1812) that aims to prohibit public officials and their immediate family members from profiting from Crypto Assets during their terms, including the issuance, promotion, or trading of digital assets in which they have a financial interest. The bill stipulates that relevant individuals may not conduct more than $1,000 in Crypto Assets transactions during their term and for one year after leaving office, and they must close all positions within 90 days of the bill taking effect. Violations can result in up to 5 years in prison or a fine of up to $50,000. Waxman introduced this bill in response to the controversy surrounding Trump and his family allegedly profiting from public office.
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