The US plans to ban members of Congress from trading stocks.
Currently, all members of Congress are required to report most of their investments in stocks and cryptocurrencies. However, attorneys are concerned about potential conflicts of interest.
US May Restrict Members of Congress
Many lawmakers, both Democrats and Republicans, at one point expressed support for a potential law that would prohibit members of Congress from investing in stocks or cryptocurrencies.
Democrats currently hold a majority in the House of Representatives. Republican representative Kevin McCarthy said he would consider banning lawmakers altogether from holding and trading stocks if his party turns the situation in their favour. Possibly, cryptocurrencies can also be included in this.
Senator Elizabeth Warren, known for her opposition to cryptocurrencies, said the following on her Twitter account.
“Members of Congress should not own or trade individual stocks.”
Members of Congress should not own or trade individual stocks. And neither should their spouses.
— Elizabeth Warren (@SenWarren) January 2, 2023