US Congressman reveals XRP, SOL and BTC holdings

Rep. Jay Reschenthaler (R-Pa.) recently It has been detected Purchases of various cryptocurrencies.

The 41-year-old US lawmaker now owns cryptocurrencies such as Ripple-linked XRP, Solana (SOL), and Bitcoin (BTC). All of these purchases were in the range of $1,000 – $15,000.

Mike Collins (R-GA) also revealed the purchase of Ski Mask Dog (SKI) earlier this year.

Barry Moore (R-NC) and Jeffrey Jackson (D-NC) are also among the US lawmakers who have previously reported significant cryptocurrency transactions.

Back in 2021, The Wall Street Journal I mentioned A total of 11 members of Congress were crypto holders, nine of whom were representatives in the House of Representatives.

Meanwhile, the US Senate will have a committee specifically dedicated to digital assets.

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This committee will be led by Sen. Cynthia Lummis (R-Wyo.), who is best known for coming up with a bill that would require the Treasury Department to purchase 1 million bitcoins over five years.

The 70-year-old senator previously claimed she first bought Bitcoin in 2013. She later revealed another purchase in 2021.

The US House of Representatives Ethics Committee issued a memo asking House members to disclose their cryptocurrency holdings exceeding $1,000 in 2018. Before that, cryptocurrency transactions were unknown to US lawmakers because the disclosure rules for stocks and bonds did not include the new asset class.

Such legal disclosure is necessary to see if lawmakers have skin in the game.

Senator Elizabeth Warren (D) recently opinion Investing in cryptocurrencies represents a “terrible conflict of interest” for lawmakers, and she was happy that the number of members of Congress owning cryptocurrencies was relatively low.