Is the US Congress acknowledging Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies?
Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH) are seemingly getting accepted in the United States Congress, as Bob Goodlatte- the Chair of the House Judiciary Committee, who owns cyptocurrencies have come to the light. The original news came through Sludge on 6th August.
Goodlatte's Bitcoin, Bitcoin Cash and Ethereum possession
Goodlatte is reportedly the first member of Congress to disclose his cryptocurency possessions. His annual financial disclosure showed that he owns between $17,000 and $80,000 in cryptocurrency. His financial disclosure showed that the Congressman owns Bitcoin majorly, with nominal amounts in Bitcoin Cash and Ethereum. The filing of his finances was done in May, prior to the imposition of new rules from the House Ethics Committee.
Even Goodlatte’s son, Bobby Goodlatte Jr., who is an angel investor in the major crypto exchange Coinbase, is reportedly a significant Bitcoin investor.
The new rule
According to a June 18 memo issued by the House Ethics Committee, members of the House asked to divulge the ownership of cryptocurrency, like any other financial transactions in their individual annual report, along with their other assets. The members are required to report not only their crypto transactions but also the ones of their spouses, within 45 days since they transact if it is the transaction cost is more than $1,000.
With Goodlatte divulging his crypto possessions, other names are coming to the fore. Names of other congressmen and Senators like Rep. Jared Polis and Mark Warner have been listed, who are also speculatively holding cryptocurrencies.