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US Lawmakers should ‘remain impartial’ and not hold crypto, says Alexandra Ocasio-Lopez

Photo: Boston

Alexandria Ocasio-Cortez, member of the House of Representatives’ Financial Service Committee has decided to not hold stocks. She said, “I want to do my job as ethically and impartially as I can.” 

Potential conflict of interest is the reason why Democratic Representative AOC dodges investments and purchase of crypto. She strongly believes that her co-lawmakers should do the same. 

In explanation for her decision not to invest in Bitcoin or any other cryptocurrency, the Representative explained that as someone on the House Financial Services Committee—which has access to sensitive information and upcoming policy-making about cryptocurrencies—she felt it inappropriate given this role holding such valuable assets.

Alexandra Ocasio-Lopez

“I do not believe members of Congress should hold/trade individual stock and I choose not to hold any so I can remain impartial about policy making,” said says Alexandra Ocasio-Lopez. 

AOC, a progressive lawmaker who has served in the United States government since 2019, has advocated for wealthy individuals to pay more at both state and federal levels. She’s spoken out on sexism within Congress as well as calling for canceling student loan debt during her time there so far. A lone wolf of sorts when it comes down to legislation but no less effective or determined because of this, she is partaking alongside six other democratic representatives known colloquially by some Americans simply as “The Squad.”

Though members of Congress are granted the right to buy, sell, and trade stocks while in office. They must also keep to the STOCK Act which materialized in 2012. This law requires them to disclose any purchase or sale over $1K within 30 to 45 days. But many federal judges and politicians have flouted this by not revealing most of their investments.

In the event that a member of Congress owns crypto. It would seem appropriate to track investments using an open blockchain database. Both House and Senate leadership could avoid placing these lawmakers in positions. Where they might conflict regarding policy decisions on digital currency/blockchain technology. For example, Cynthia Lummis reported buying Bitcoin worth between 50k-100K USD at August’s price point. Even though she served on the Senate Banking Committee.

Opinions expressed by Coin Week contributors are their own.