In the province of Pennsylvania, a new bill of law came to the fore, aiming to organize public officials’ activities related to crypto assets. This legal regulation, called House Bill 1812 (HB1812), foresees that public officials and first -degree relatives have a crypto existence or to impose various restrictions on transactions with these assets.
Crypto Money Limitation
According to the file summary, HB1812 was prepared on the grounds that crypto money purchase and processing with them had potential effects on the impartiality of public officials. The main objective of the bill is to increase the financial transparency and ethical standards of public officials. The law proposal also aims to bring a comprehensive regulation to family members.
In the event that the draft law comes into play, the fact that public officials and their relatives can buy and sell crypto money or have them will be subjected to certain rules. In order to enact the bill, it must be approved in the state council.
Ethical transparency and financial arrangements
The bill focuses on the necessary measures against the risks of conflict of interest in the conflict of interest in the investment of public officials in crypto assets. In this context, it is desired to minimize the effect of public officials’ economic interests on legislation processes.
The law proposal, which was on the agenda in a period of increasing interest in crypto beings in the public opinion, is an important work prepared with the intention of consolidating the ethical obligations of public officials against the rapid changes in the crypto asset market.
Official explanations and process
In the preparation process of the bill, the main purpose of legislators was stated as the strengthening of transparency standards related to public officials. In the statement about the bill, the following statements were included:
“With this regulation, we want to distinguish the financial interests of the public service from their processes of law and maintain social confidence.”
According to the bill, the restriction of crypto asset ownership or the right to transactions aims to allow public officials to carry out their duties independently. We will see that the bill is evaluated in the state council in the following process.
In particular, the huge currencies of Trump and his family by entering the crypto currency business made the conflict of interest in this field an important issue of debate. Trump’s son Eric sometimes shares as “the time to get crypto currencies ve and then we see the regulation announcement, political events or other things to raise crypto currencies. Furthermore, a significant portion of WLFI investors are purchasing only because US President Trump is the owner of this project. As a matter of fact, pre -sales failure before the elections and today’s success are the clearest example of this.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
