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First U.S. Congress Member Reveals Owning Bitcoin, Ethereum

Georgi Georgiev
by Georgi Georgiev
7 years ago
·
Posted in News, Altcoin News, Altcoins, Bitcoin, Bitcoin Politics, Ethereum, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Congressman Bob Goodlatte, Chairman of the Judiciary Committee in the US House of Representatives, recently disclosed his personal cryptocurrency holdings. The revelation comes amidst rule changes mandating disclosure for members of the House.


Cryptocurrencies Stepping In Congress

Cryptocurrencies have made their way up in the high ranks of US politics. Congressman Bob Goodlatte filed his annual Financial Disclosure Statement on May 10, disclosing that he owns between $17,000 and $80,000 in digital currencies.

The statement was filed just before the House Ethics Committee passed new rules which required the members of the House to officially disclose in their annual reports whether or not they own cryptocurrencies. They also have to report on the holdings of their spouse’s if they amount to more than $1,000. Members of the House also have to report transactions involving more than $1,000 of crypto within 45 days of the event.

According to the statement, Goodlatte has invested in Bitcoin[coin_price], Bitcoin Cash, and Ethereum. The Sludge reports that his son, Bobby Goodlatte Jr., is an angel investor in Coinbase. His financial involvement in the company, though, is not disclosed.

Congressman Bob Goodlatte, who is the Chairman of the Judiciary Committee in the US House of Representatives, may become the first member of Congress to disclose that he owns cryptocurrencies.

Things Are Getting Serious

The last few months have marked interesting developments involving cryptocurrencies and politics. In May, fellow Democrats Dave Min and Brian Forde clashed over accepting cryptocurrencies as donations for the 45th Congressional race.

Earlier in January, former Republican Ron Paul said he’s in favor of legalizing alternative currencies so long as they are not used for fraudulent purposes.

Just a few days ago, Bitcoinist reported that a 2020 U.S. Presidential Candidate Andrew Yang will be accepting cryptocurrencies as official forms of donations for his campaign.

While the US Government remains uncertain on its position towards cryptocurrencies and the way they are treated, all of the above signals that they are beginning to have an impact on the American political landscape.

What do you think of Bob Goodlatte’s cryptocurrency holdings? Don’t hesitate to let us know in the comments below!


Images courtesy of Shutterstock

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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