According to a memorandum by the House Ethics Committee, all employees, lawmakers and officers must disclose their crypto investments over $1,000. It is also required to report any new purchase or sale of more than the above-mentioned account during 45 days after the transaction.
Representatives of Congress are also banned from earning more than $28,050 a year from jobs that are not part of their work in government, which includes crypto mining, the memo also reminded.
The Committee explained that crypto would be consider as ‘other forms of securities’, and therefore digital currencies must be disclosed in the annual statement and on periodic reports.
Since 2012 members of US Congress and their immediate relatives have been required to report their all financial transactions.