According to Alexandria Ocasio-Cortez, US lawmakers should not hold cryptocurrency to ‘remain neutral.’
“I want to execute my work as ethically and impartially as possible,” AOC opined, adding that she has chosen not to hold stocks or investments, including digital assets, as a member of the House of Representatives Financial Services Committee.
Alexandria Ocasio-Cortez, a Democratic congressman, stated on Monday that she avoids any assets that could pose a clash of interest, including cryptocurrency, and that her colleagues in the Parliament should do the same.
She added that she felt it was unethical for her to have Bitcoin (BTC) or other digital assets as a member of the House of Representatives Financial Services Committee since politicians have access to “sensitive information and forthcoming policy.”
“I do not think members of the Congress should own/trade individual stocks, and I have chosen not to do so to stay objective in policymaking,” AOC added. “I apply it to digital assets/currencies […] I want to execute my job most ethically and impartially possible.”
AOC, a progressive member who has served in the US government since 2019, has fought for rich individuals to pay higher federal taxes, spoken out against sexism in Congress, and called for student loan debt cancellation. She is also a member of the ‘Squad,’ a group of six House members known as ‘The Squad.’
Members of Congress are allowed to buy, sell, and trade stocks and other investments while in office, but they must declare any purchase, sale, or exchange exceeding $1,000 within 30 to 45 days under the Stop Trading on Congressional Knowledge Act, or STOCK Act, passed in 2012. Many federal judges and congressmen, on the other hand, are said to have broken the law by failing to disclose some investments.
In the case of crypto in the hands of lawmakers, it appears that using a public blockchain database to track investments would be an option, allowing House and Senate leadership to avoid putting lawmakers in a position where they would be deciding policy on crypto and blockchain, which could be seen as a conflict of interest. Senator Cynthia Lummis stated in August that she purchased BTC worth between $50,000 and $100,000. Senator Lummis served on the Senate Banking Committee despite being vocally pro-crypto before being inducted into office.