Re: Everything you wanted to know about Bitcoin Strategic Reserve
Pennsylvania House bill to ban public officials from owning Bitcoin and digital assets if passed.
Violations could result in fines or imprisonment.
A House Bill No.1812 was introduced to the general Assembly of Pennsylvania and if passed and signed into law will restrict public officials from owing nor transacting in Bitcoin or in any digital assets during their terms of service and for one year after leaving office in the state. This bill is sponsored by nine lawmakers in the house seeking to ban public officials from owing Bitcoin while in office and violators will be penalized . This Bill 1812 contradict president Donald Trump intentions of Making America the Bitcoin capital of the world. It pains me to see lawmakers fighting to denied others the right to financial freedom within a stipulated period of time.
This law was originally made so that government officials and employees cannot commit corruption because through Bitcoin transactions, money can be illegally laundered from anywhere at any time or there can be a tendency for corruption or bribery, which is why the government has done this only for government employees, this law is not applicable to the general public. So in my opinion this law is right. The total population of Pennsylvania is about 13.08 million, according to the official source: Census Bureau, and 11.7% of the total employment is in government jobs.Therefore, it is natural to have a separate discipline for government employees in the interest of the economic security of the larger people. The most important thing is that government employees are directly involved in making public money and policies. Violations could result in fines or imprisonment.
A House Bill No.1812 was introduced to the general Assembly of Pennsylvania and if passed and signed into law will restrict public officials from owing nor transacting in Bitcoin or in any digital assets during their terms of service and for one year after leaving office in the state. This bill is sponsored by nine lawmakers in the house seeking to ban public officials from owing Bitcoin while in office and violators will be penalized . This Bill 1812 contradict president Donald Trump intentions of Making America the Bitcoin capital of the world. It pains me to see lawmakers fighting to denied others the right to financial freedom within a stipulated period of time.
Therefore, the main goal of the law is to protect the public's trust that government officials are not doing any secret transactions, although corrupt people can commit corruption in many ways, they will try to do whatever is necessary or responsible on behalf of the government, I appreciate the government's point of view for this law.