They're trying to stop Pelosi's picks! 27 members of the US House of Representatives don't want lawmakers to be able to trade stocks.
Congresspeople currently HODLing or actively trading in crypto may have to stop doing so while in office if recent pushes to ban lawmakers from investing in stocks gain enough support.
In a Monday letter addressed to Speaker Nancy Pelosi and Minority Leader Kevin McCarthy, 27 members of the U.S. House of Representativesfor action “to prohibit members of Congress from owning or trading stocks.” Among the bipartisan group of lawmakers who signed onto the letter was Illinois congressperson Bill Foster, who is also a member of the Congressional Blockchain Caucus.
“It’s clear the current rules are not working,” said the letter to Pelosi and McCarthy. “Congress should close these loopholes by simply banning members from owning or trading individual stocks while in office. In addition to ensuring that members’ access to information doesn’t advantage them over the public when trading stocks, as the STOCK Act sought, this would end the potential corruption of lawmakers pursuing policy outcomes that benefit their portfolios.
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