US chair of the Judiciary Committee discloses his crypto holdings, adding that he owns between $17,000 and $80,000 in digital currency in his annual Financial Disclosure Statement.
7 August, AtoZ Markets – Congressman Bob Goodlatte (R-VA), who is the chair of the Judiciary Committee of the US House of Representatives has disclosed that he owns cryptocurrency.
US chair of the Judiciary Committee Discloses his Crypto Holdings
According to online reports, Congressman Bob Goodlatte stated that he owns between $17,000 and $80,000 in digital currency in his annual Financial Disclosure Statement. He has filled the statement earlier this May, which came a month before the US Ethics Committee has issued new rules about disclosing digital currency holdings.
As per the new rules, all House Members should disclose their own and their spouse’s cryptocurrency holdings that are valued at more than $1,000 and report over a $1,000 worth of cryptocurrency transactions within 45 days. As per the statement, the Congressman has invested in Bitcoin, Ethereum and Bitcoin Cash.
It is also known that his son, Bobby Goodlatte Jr., is reportedly an angel investor in San-Francisco-based crypto exchange Coinbase. Yet, it is still uncertain when and how much has he invested in the company.
US Lawmakers’ Crypto Stance
For some of the lawmakers in the US Congress, cryptos emerge as suspicious and risky assets. This spring’s hearing at the Congress has seen the Representative Sherman of California calling cryptocurrency “a crock.” He has added that cryptos can only serve to “help terrorists and criminals move money around the world.”
Some of the US regulators have been tightening cryptocurrency regulations. However, there are some members of Congress that are supporting this industry. For instance, Congressman Jared Polis has set up the Congressional Blockchain Caucus. This is a group that plans to expand Blockchain technology and promotes fair regulatory approach.
Mark Warner has also been named a crypto supporter as he has stated he anticipated the crypto market capitalization to bypass $20 trillion by 2020. He has added:
“I was an early investor in cell phones back in the ’80s, and I believe blockchain has the potential to be just as transformational as cell phones. As our government begins to look at crypto, I don’t think you can separate cryptocurrencies from the technology they’re based on.”
Think we missed something? Let us know in the comments section below.