U.S. Lawmaker Wants Ethics Committee to Form Bitcoin Disclosure Guidelines

This week Colorado House Representative Jared Polis sent a letter to the U.S. House Committee on Ethics asking the organization to propose statutes that require government employees to declare their bitcoin and digital currency holdings.

House Representative Jared Polis: ‘Government Employees Should Report Any Virtual Currency Holdings’

U.S. bureaucrats are ramping up efforts to try and regulate the decentralized currency bitcoin and the slew of other cryptocurrencies that exist. On February 5, the House Representative Jared Polis who is known as “bitcoin-friendly,” submitted a request that urges the House Committee on Ethics (HCE) to provide guidance on how politicians can disclose their digital asset holdings. Polis states that in a lot of U.S. territories digital assets are defined as securities or commodities, and U.S. politicians are already required to declare traditional assets. Polis says it is “critical” that the HCE provide this type of guidance to government employees.

“Members of Congress and covered employees are already required to report certain asset holdings over certain amounts, including reporting any commodities holding over $1,000,” Polis argues in his petition to the HCE.

A Member or covered employee should report any virtual currency holding as they would report any other commodity, such as gold.

The letter to the House Committee on Ethics from Jared Polis urges the group to create guidelines for politicians to disclose their cryptocurrency holdings.

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