US government‘s “Ethics Chief”, authorities with crypto assets will be prevented from taking a role in decisions to be taken in the field in question from now on.
According to the published statement, any amount as a personal investment cryptocurrency or any US government employee who owns a stablecoin is prohibited from participating in any work related to this field. It was also included that the government employee could have a foresight or have a direct impact on the value of their assets through the work they would participate in.
It was previously advised that stablecoins and crypto assets do not fit the definition of “publicly traded securities”. This remains the same if they create securities for the purposes of Federal securities laws. He added that since these digital assets are not “publicly traded securities”, no exemptions will apply.
After the harsh volatility in the markets, the total value of the crypto market decreased to around $ 921 billion. This decision was taken at a time when such uncertainties prevailed.
In many news in the press, Ripple Some allegations have been made by blockchain firms such as the authorities that the authorities are involved in certain crypto assets. US SEC and settled on a major lawsuit regarding the nature of its native token, XRP.
Biden signed an executive order in March urging federal agencies to work on policies regarding cryptoassets. In addition, the possibility of a US digital dollar increased after the studies and decisions made. Another remarkable development was that many politicians in Washington received donations with crypto assets.
However, OGE suggested that there might be only one exemption from the crypto ownership crackdown. According to the exemption, politicians can hold investment funds up to $50,000. Politicians with investments of this value or less will be able to participate in the work.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.