Pennsylvania Bill Aims to Ban Crypto for State Officials

A new bill proposed by Pennsylvania lawmakers seeks to ban public officials and their immediate families from holding any form of cryptocurrency or related assets. This legislation, known as HB1812, would require state officials to fully divest all crypto holdings within two months of entering office and prohibit these investments for a year after leaving government service. The measure extends the ban beyond direct ownership to include indirect holdings like trusts, funds, ETFs, and derivatives. Violations could result in fines of up to $50,000 or possible felony charges under Pennsylvania’s Ethics Act.