Pennsylvania state lawmaker proposes ban on public officials trading crypto

The bill pushed by the representative included a ban on lawmakers and their families from "launching, promoting, or trading in coins where they hold a personal financial interest.”

Ben Waxman, a Democrat representing District 182 in Pennsylvania’s House of Representatives, has introduced legislation “to prohibit elected officials from profiting off cryptocurrency while in office.”

Waxman introduced HB1812 on Wednesday with eight Democratic co-sponsors in response to what he called “corruption” perpetuated at the federal level by US President Donald Trump.

The Pennsylvania lawmaker accused Trump of financially benefiting from crypto projects like his memecoin, Official Trump (TRUMP), and pushing policies to “roll back federal oversight of crypto markets, shielding these schemes from scrutiny.”

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