EddieJayonCrypto
3 Jun 25
Rep. Brandon Gill (R-TX) failed to disclose up to $500,000 in Bitcoin purchases within the 45-day window required by the STOCK Act, raising concerns about transparency among crypto-investing lawmakers. Gill reported buying Bitcoin in late January and February but disclosed the trades late, beyond th...
Rep. Brandon Gill (R-TX) failed to disclose up to $500,000 in Bitcoin purchases within the 45-day window required by the STOCK Act, sparking concerns about transparency and conflicts of interest among crypto-investing lawmakers.Gill reported his Bitcoin purchases in late January and February but submitted disclosures well past the legal deadline. The STOCK Act, enacted in 2012 to prevent insider trading and ensure accountability, mandates timely reporting of securities transactions by lawmakers, including digital assets, but enforces minimal penalties—only a $200 fine which is often waived by congressional ethics committees.Gill, a vocal crypto advocate connected to conservative circles and the son-in-law of commentator Dinesh D’Souza, has supported deregulation efforts. His January Bitcoin trade came shortly after former President Donald Trump issued an executive order reducing digital asset regulations, and his February purchase preceded Trump’s announcement of a "strategic Bitcoin reserve."Gill did report two additional Bitcoin purchases in May on time, demonstrating some adherence to disclosure rules. However, his late reporting adds to the broader scrutiny of politicians’ ties to crypto ventures. The article highlights the involvement of Trump and his family in various digital asset projects—from NFTs to DeFi initiatives—and remarks on the coinciding financial gains and regulatory leniency for political backers of crypto.Democrats, led by Rep. Maxine Waters (D-Calif.), have proposed legislation to prohibit elected officials and their families from holding or launching crypto projects while in office, aiming to curb conflicts of interest. These measures, however, have not gained Republican support, reflecting ongoing partisan divides over crypto regulation and transparency in government investments.