The hypocrisy of the U.S.Congress is on display yet again after it was revealed that Rep. Tulsi Gabbard (D-HI) has vested interests in two separate digital currencies — namely Bitcoin and Ethereum.
Gabbard is not the first congressperson to make this revelation since earlier this year, Robert Goodlatte, a Republican candidate from Virginia, disclosed that he too had recently purchased around $15,000 worth of ETH and LTC via a financial disclosure report. The report also mentioned that Goodlatte is currently in possession of nearly $80K worth of Bitcoin, Ethereum, and Bitcoin cash.
More about Gabbard
In addition to being a representative of the Democratic Party, Gabbard is also on the Armed Services Committee as well as the House Foreign Affairs Committee. Not only that, she also served as the Vice-Chair for the Democratic National Committee up until early 2016, following which she actively campaigned to get Bernie Sanders the Democratic presidential nomination.
According to Gabbard’s financial disclosure report, she procured her digital assets early last December but did not receive any income from her investments.
Memo: “Lawmakers need to disclose their financial holdings”
At this point, it is worth noting that each and every member of the U.S. Congress is now required to file an earnings disclosure under an ethics memo that was released by the House Ethics Committee in June earlier this year.
The Committee made it clear that lawmakers within the United States are now required to reveal their digital asset holdings— if they happen to exceed an economic sum of $1,000.
The disclosure of these assets is now mandatory via a detailed report which should be handed in within a period of 45 days from the date-of-purchase of any cryptocurrency.
Following the disclosures made by Rep Gabbard and Goodlatte, many experts now believe that more U.S. lawmakers will follow suit and declare their altcoin holdings in the coming weeks and months.
For example, Rep. Jared Polis (D-CO), who is the co-founder of the Congressional Blockchain Caucus, is likely to be in possession of sizeable crypto assets along with Sen. Mark Warner (D-VA), who too has been known to back various cryptocurrencies in the past.