- Pennsylvania bill restricts public officials’ cryptocurrency activity.
- Targets Bitcoin, Ethereum, and other digital assets.
- No notable market impact observed.
Representative Ben Waxman introduced Pennsylvania’s HB1812 on August 22, 2025, aimed at restricting public officials from engaging in cryptocurrency-related activities while in office.
The bill raises ethical concerns, addressing potential conflicts of interest for officials, but has not yet caused significant market or blockchain shifts.
House Bill 1812, from Rep. Ben Waxman, aims to restrict Pennsylvania officials’ crypto activity. The bill intends to prevent elected officials from holding, trading, or promoting digital assets. Waxman emphasizes the need to maintain public trust and integrity. Pennsylvania bill bans officials from crypto transactions, requires disclosures.
Supported by several other Democrats, the bill proposes penalties for non-compliance. Officials must disclose crypto holdings over $1,000 and divest within 90 days. Violations can lead to fines up to $50,000 or five years imprisonment. Ben Waxman, Representative, Pennsylvania House of Representatives, stated, “In Pennsylvania, no public official should be allowed to use their office to enrich themselves through cryptocurrency schemes. That’s why I’m introducing legislation to prohibit elected officials from profiting off cryptocurrency while in office. This includes launching, promoting, or trading in coins where they hold a personal financial interest.” – Source
This proposal affects digital assets like Bitcoin, Ethereum, and NFTs. Immediate family holdings are included in the restrictions. Waxman’s bill mirrors federal initiatives addressing politicians’ cryptocurrency interests.
HB1812 does not impact state financial assets, focusing on individual officeholders’ investments. Prior efforts, such as state-level digital asset reserves, remain separate from this legislation. The bill stresses transparency and accountability at the state level.
Currently, there has been no indication of massive cryptocurrency movements or market volatility triggered by the bill. The intent is regulatory, not operational on blockchain projects.
Potential consequences include a shift in state-led digital asset regulation and increased scrutiny on political figures. Historical data shows limited impact on crypto value from regulatory news. Compliance deadlines heighten the need for immediate action.
