Pennsylvania Legislators Propose Banning Public Officials from Trading Cryptocurrency

BlockBeats News, August 22nd. According to Cointelegraph, Pennsylvania House Democratic Representative Ben Waxman introduced legislation aimed at "preventing officials from profiting from cryptocurrency during their term in office."

Waxman submitted the HB1812 bill on Wednesday and received support from eight Democratic cosponsors. This is his response to what he perceives as the "corrupt" behavior perpetuated by U.S. President Donald Trump at the federal level.

The Pennsylvania lawmaker accuses Trump of profiting from projects such as his meme coin TRUMP and pushing for relaxed federal regulations on the cryptocurrency market to "shield these schemes from scrutiny."