Pennsylvania House bill to ban public officials from owning Bitcoin and digital assets if passed.
Wow, this is a complete U-turn in stance toward cryptocurrencies. Although I couldxse a rationale here, I am wondering if this prohibition is toward cryptocurrencies alone, or it is shared amongst all asset classes.
I might see a reason why if Pennsylvania can invest in some asset, a public official cannot hold that very same asset ( I can understand the rationale), on the other hand I cannot comprehend the total closure before any explaination
They certainly have some existing disclosure laws that they must comply with, but this bill may still be in the process of being passed by the legislature, so it is not yet clear that it will pass. If this bill passes, it may be appropriate to ban government officials and their close relatives from owning Bitcoin. It seems that their law is very strict because they have mentioned that ethics and financial laws need to be changed. Because government officials may not be able to come into contact with not only Bitcoin but also other cryptocurrencies through these. But in this context it is correct that they might enact a law against everything Trump does, where Donald Trump, future presidents, and other members of Congress will be prevented from using memecoins.