Crypto-friendly legislator skips Bitcoin disclosure due date – Is the government ignoring it?
Key Points
- Pro-crypto lawmaker, Representative Brandon Gill, violated the disclosure deadline for his Bitcoin purchases.
- Despite a pro-crypto stance, American political leaders own less than $3 million of Bitcoin as of January 2025.
Republican Texas lawmaker, Representative Brandon Gill, recently disclosed his Bitcoin (BTC) trades past the mandated deadline.
According to a report, Gill purchased up to $500K worth of BTC in January and February, but disclosed these trades outside of the 45-day window required by the Stop Trading on Congressional Knowledge Act (STOP Act).
Violation of the STOCK Act
Interestingly, Gill isn’t the only one who has failed to comply with the STOCK Act.
Over 62 representatives violated the disclosure law across stocks and digital assets in 2024, though they are only liable for a $200 fine.
Low Crypto Exposure Among U.S. Lawmakers
Despite the violations, around 19 politicians, mostly Republicans, own Bitcoin and crypto-related stocks, based on data from the past two years.
Vice President J.D. Vance and Senator Dave McCormick are among the few who have disclosed crypto holdings, with McCormick reportedly owning $5 million worth of BTC.
However, excluding McCormick, the total BTC owned by American political leaders was reported to be less than $3 million as of January 2025.
This low exposure contrasts with the pro-crypto stance of many Republicans.
Despite the risks associated with new technologies like Bitcoin and blockchain, Vance has expressed support for allowing them to develop and let the market decide their fate.
