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Some members of Congress have opposed the SEC's actions on crypto, arguing that the SEC needs congressional approval to justify going after bad actors, or that crypto should be regulated more like ...
Cryptocurrency exchanges or trading platforms were effectively banned by regulation in September 2017 with 173 platforms closed down by July 2018. [ 101 ] In early 2018 the People's Bank of China announced the State Administration of Foreign Exchange led by Pan Gongsheng would crack down on bitcoin mining.
Crypto maintained political allies in D.C., chief among them Rep. Patrick McHenry (R-N.C.), the chair of the House Financial Services Committee, who is retiring at the end of this term.
[97] Members of Congress are explicitly barred from trading stocks using insider information. [97] In October 2017, the Office of Congressional Ethics (OCE) said they had "substantial reason" to believe that Collins had improperly used his public office to benefit Innate, and had forwarded nonpublic information to other investors. [ 98 ]
In fact, 20% of voters in key battleground states identified crypto as a major issue in the 2024 election season according to a recent survey by Digital Currency Group.
After working as a staffer for U.S. Representative Mark Meadows, Cawthorn was elected to succeed Meadows in 2020 and became the first member of Congress born in the 1990s. [3] His tenure was marked by various controversies, including allegations of insider trading , improper payments, bringing a handgun to an airport, and appearing in a leaked ...
The 2020 congressional insider trading scandal was a political scandal in the United States involving allegations that several members of the United States Senate violated the STOCK Act by selling stock at the start of the COVID-19 pandemic in the United States and just before a stock market crash on February 20, 2020, using knowledge given to them at a closed Senate meeting.
Steve Buyer, the former Republican representative for Indiana, was sentenced to 22 months in prison and ordered to forfeit more than $300,000 as well as pay a $10,000 fine for insider trading on ...