{"id":167556,"date":"2025-08-22T12:54:47","date_gmt":"2025-08-22T09:54:47","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=167556"},"modified":"2025-08-22T12:54:47","modified_gmt":"2025-08-22T09:54:47","slug":"pennsylvania-lawmakers-push-strict-limits-on-crypto-holdings-for-public-officials","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/pennsylvania-lawmakers-push-strict-limits-on-crypto-holdings-for-public-officials\/","title":{"rendered":"Pennsylvania Lawmakers Push Strict Limits on Crypto Holdings for Public Officials"},"content":{"rendered":"<p>The proposal, known as HB1812, was introduced on August 20 by Representative Ben Waxman with bipartisan co-sponsorship. It seeks to update the state\u2019s ethics code to reflect the rise of cryptocurrencies and NFTs, imposing rules designed to prevent conflicts of interest.<\/p>\n<h2>Mandatory disclosure and divestment<\/h2>\n<p>If enacted, the <strong><a href=\"https:\/\/www.legis.state.pa.us\/cfdocs\/billInfo\/billInfo.cfm?bn=2664&amp;body=H&amp;sInd=0&amp;sYear=2023&amp;type=B\" rel=\"nofollow\">measure<\/a><\/strong> would force officials to report any crypto or digital asset holdings worth more than $1,000. More importantly, they would need to sell off anything above that threshold within 90 days of the law taking effect. The rule also applies to assets held by immediate family members, a move aimed at closing loopholes around indirect ownership.<\/p>\n<h2>Transaction bans and penalties<\/h2>\n<p>The legislation goes beyond reporting requirements. During their term \u2013 and for a full year after leaving office \u2014 officials would be barred from trading crypto altogether. Families face similar restrictions during an official\u2019s tenure.<\/p>\n<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-167488\" href=\"\" title=\"\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\"><\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>Violations carry steep consequences: penalties could include felony charges, up to $10,000 in fines, and as much as five years in prison. Civil infractions could result in additional fines as high as $50,000.<\/p>\n<h2>A response to growing adoption<\/h2>\n<p>Lawmakers argue that digital assets are becoming too common in investment portfolios to ignore. By imposing disclosure, divestment, and trading bans, Pennsylvania aims to set one of the nation\u2019s toughest standards for public-sector ethics in the crypto era.<\/p>\n<p>If the bill advances, it would take effect 60 days after passage, giving officials only a short window to adjust their holdings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pennsylvania\u2019s legislature is weighing a bill that could sharply restrict how public officials and their families interact with digital assets.<\/p>\n","protected":false},"author":7,"featured_media":22334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[25],"tags":[424],"coin_category":[],"class_list":["post-167556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulations","tag-crypto"],"acf":[],"yoast_head":"<!-- This site is optimized 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