A bill, HB1812, filed in August by Rep. Ben Waxman has been referred to the state government committee. The measure aims to prohibit state officials from possessing Bitcoin or Non-Fungible Tokens (NFTs) by amending the state’s ethics code to include these assets under “digital assets”. The legislation mandates that officials disclose any crypto holdings exceeding $1,000 on their financial disclosure forms. Officials and their immediate families would then have 90 days to divest these assets above that threshold. Further restrictions prohibit officials from conducting crypto transactions during their term and for one year after leaving office. The bill carries a range of penalties: up to $10,000 in fines or five years in prison for felonies and civil penalties of up to $50,000 for other breaches. This bill is part of a broader nationwide effort to limit the involvement of politicians in crypto markets.