Pennsylvania Bill Aims to Ban Public Officials From Crypto Holdings

A new bill proposed in the Pennsylvania House of Representatives seeks to ban public officials and their families from owning or engaging in transactions with Bitcoin and other digital assets, including memecoins, non-fungible tokens (NFTs), and even stablecoins. This legislation, known as House Bill 1812, targets elected officials and aims to implement stricter financial disclosures to prevent potential conflicts of interest. The bill’s provisions include a two-month divestment period for existing holders of crypto assets upon taking office and a one-year waiting period before they can own any digital assets again after leaving their government positions.