Rep. Guy Reschenthaler (R-Pa.) has disclosed his investments in Bitcoin (BTC), Ripple-linked XRP, and Solana (SOL) as part of his required filing under the Stop Trading on Congressional Knowledge (STOCK) Act. The congressman’s crypto portfolio is valued between $1,000 and $15,000.
The STOCK Act mandates that U.S. lawmakers report any financial investments exceeding $1,000, and Reschenthaler’s disclosure is in line with this transparency requirement. His move adds to the growing trend of Congressional figures revealing their cryptocurrency holdings.
Earlier in 2024, Rep. Mike Collins (R-Ga.) also disclosed his crypto investments, including purchases of Ski Mask Dog (SKI) tokens, along with Ether (ETH), Velodrome (VELO), and The Graph (GRT). These revelations underscore the increasing presence of digital assets among U.S. politicians.
The trend is further supported by lawmakers like Rep. Barry Moore (R-Al) and Rep. Jeffrey Jackson (D-NC), who have made significant crypto investments in recent years, reflecting the rising influence of cryptocurrency in U.S. political circles.
In 2021, a Wall Street Journal report highlighted that 11 members of Congress owned cryptocurrency, with a majority from the House of Representatives. As interest in digital currencies grows, the U.S. Senate is establishing a new committee to oversee digital currencies, with Sen. Cynthia Lummis at the helm. Lummis, a staunch crypto advocate, has introduced a bill urging the U.S. Treasury to acquire 1 million Bitcoins over five years and regularly shares details of her own Bitcoin purchases.
Since 2018, lawmakers have been required to report cryptocurrency holdings exceeding $1,000, aligning with existing transparency rules for stocks and bonds to avoid potential conflicts of interest. However, some figures, like Sen. Elizabeth Warren (D-Mass.), have criticized such investments, calling them a “terrible conflict of interest” and expressing concern over the limited number of lawmakers involved in crypto assets.
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