Pennsylvania Proposes Crypto Ban for Public Officials

Pennsylvania Representative Ben Waxman has introduced House Bill 1812 to enact a crypto ban on public officials and their immediate families. The bill prohibits any cryptocurrency transaction over $1,000 while in office and for one year after leaving. Incumbents must divest existing holdings within 90 days or face fines up to $50,000 and prison sentences up to five years. Waxman says the crypto ban will prevent conflicts of interest and curb insider trading in the lightly regulated digital asset market. Supported by eight Democrats, HB1812 aligns with federal proposals such as the Stop TRUMP in Crypto Act and the COIN Act. Supporters view it as a straightforward ethics reform, while critics warn it may be overly broad and deter private investment by public servants. The bill is now under committee review in the Pennsylvania House.