Pennsylvania Enacts HB1812: Banning Crypto Holdings by Public Officials

Pennsylvania has taken a significant step in regulating public officials’ involvement with cryptocurrencies, enacting House Bill 1812 (HB1812). This new legislation mandates the divestment of all cryptocurrency holdings from public officials and their immediate families within 90 days upon taking office. The bill requires disclosure of any digital asset exceeding $1,000 annually. Violations will result in a penalty up to $50,000, aligning with existing Pennsylvania ethics framework.