EddieJayonCrypto
21 Aug 25
Pennsylvania lawmakers introduced HB1812 requiring public officials to disclose digital asset holdings over $1,000 and divest them within 90 days of enactment. The bill bans cryptocurrency transactions by officials during their term and for one year after, extends ethics standards to digital assets ...
Pennsylvania lawmakers introduced HB1812 on August 20, mandating public officials to disclose digital asset holdings exceeding $1,000 and divest assets above that threshold within 90 days after the bill's enactment. The legislation also bans officials from conducting cryptocurrency transactions during their term and for one year post-office. It amends Title 65 of the Pennsylvania Consolidated Statutes to include ethics standards for digital assets, including cryptocurrencies and NFTs, and restricts similar financial activities by officials' immediate families during and one year after the official’s term.
The bill, sponsored by Rep. Ben Waxman along with seven co-sponsors, requires disclosure of direct and family digital asset holdings over $1,000, aligning with existing financial disclosure thresholds. Violations related to digital assets can result in felony charges with fines up to $10,000 or imprisonment for up to five years, while other prohibited activities carry civil penalties up to $50,000. A 60-day implementation period follows the bill’s passage.
This legislation reflects increasing attention on digital asset ethics amid growing cryptocurrency prevalence in investment portfolios. It complements federal initiatives such as the 2025 proposals by Congressman Ritchie Torres, Senator Adam Schiff, and the MEME Act, which seek to curb cryptocurrency trading and profiteering by federal officials and their families during and after their terms. Together, these efforts indicate bipartisan concern over conflicts of interest linked to digital assets in public service.