Texas Lawmaker Misses Disclosure Deadline on Bitcoin Buys
Rep. Brandon Gill (R-TX) failed to disclose up to $500,000 in Bitcoin purchases within the required 45-day window mandated by the STOCK Act. He reported buying between $100,001 and $250,000 in Bitcoin on January 29 and February 27 but disclosed these trades only recently. The STOCK Act aims to prevent insider trading by requiring timely reporting of lawmakers' securities transactions, including digital assets, but penalties are minimal. Gill is a pro-crypto advocate and made his January purchase shortly after an executive order from former President Trump aimed at reducing crypto regulation. His February purchase preceded Trump's announcement of a "strategic Bitcoin reserve." Gill has made additional Bitcoin purchases and supports deregulation efforts in the crypto industry. Other lawmakers, including Trump and his family, have also engaged in crypto investments while promoting favorable policies. Democrats have proposed bills to restrict elected officials from owning crypto assets, but these have not gained Republican support.
