Two members of Congress have introduced a bill that would require members of the US Congress to clarify their financial interests in digital currencies to prevent establishing a new way of collecting untraceable money for government officials.
The US Congress has introduced a bill, related to American officials’ cryptocurrencies.
The bill supposes to prevent cryptocurrencies from becoming a new way of collecting untraceable money for government officials.
However, one of the criticisms that have always been leveled at cryptocurrencies is that these assets are neither transparent nor traceable.
Elissa Slotkin and Dusty Johnson are the two delegates who have introduced the bill.
If passed, the bill would require members of Congress to clarify their financial interests in digital currencies .
That is to say, government officials and their immediate families will have to disclose any purchases, sales, or exchanges of their digital currencies .
the disclosure should cover digital assets worth more than $ 1,000 which happen during the past year .
The aim is to amend the “Ethics in Government Performance”.
Which requires government officials and their immediate families to disclose their financial and professional background.