US Lawmakers Could Consider Stock Trading Ban in Next Session of Congress

Jan 03,2023
KingData News: Many United States lawmakers from both sides of the aisle have at one point expressed support for legislation banning members from investing in stocks or cryptocurrencies. Beginning on Jan. 3 as the next session of the U.S. Congress opens, Republicans will take control of the House of Representatives with a slim majority following the 2022 Midterms, while Democrats will maintain a majority in the Senate. Kevin McCarthy, a Republican representative in contention to be the next speaker of the House, reportedly said in January 2022 that he would consider an outright ban on lawmakers holding and trading stocks β€” a measure that presumably could extend to crypto β€” should his party flip the chamber. It’s unclear at the time of publication whether McCarthy has the votes to assume leadership of the House β€” a process that will likely begin starting Jan. 3. However, many have pointed to elected officials being allowed to trade and hold certain assets while in office as a potential conflict of interest.
This index tracks global regulatory move targeted at cryptocurrency and blockchain industry.