Pennsylvania Bill Could Ban Public Officials From Holding Bitcoin, Require Divestment Over $1,000
The post Pennsylvania Bill Could Ban Public Officials From Holding Bitcoin, Require Divestment Over $1,000 appeared on BitcoinEthereumNews.com.
Pennsylvania’s HB1812 would create a Pennsylvania Bitcoin ban for public officials by requiring disclosure and divestment of Bitcoin and other digital assets above $1,000 within 90 days, banning crypto transactions while in office and for one year after, with fines up to $50,000 and possible imprisonment. HB1812 forces public officials to divest Bitcoin and crypto holdings above $1,000 Violations can incur civil fines up to $50,000 or felony charges with up to five years’ imprisonment. Bill aligns with federal proposals and coincides with Bitcoin trading near $112,606 after rejection at $114,000. Pennsylvania Bitcoin ban: HB1812 forces disclosure and divestment of crypto holdings over $1,000. Read the penalties, timeline, and market impact—stay informed. What does HB1812 require of public officials regarding Bitcoin and crypto? HB1812 requires Pennsylvania public officials and immediate family members to disclose digital asset holdings above $1,000 and divest those assets within 90 days of the law taking effect. The bill also bans crypto transactions while in office and for one year after leaving, enforced by state ethics authorities with civil and criminal penalties. How does the bill define digital assets and what scope does it cover? The bill defines digital assets broadly to include Bitcoin, altcoins, memecoins, stablecoins, NFTs, derivatives, and exchange-traded funds tied to crypto. The amendments are to Title 65 of the Pennsylvania Consolidated Statutes, expanding existing ethics standards to encompass on-chain and off-chain holdings and transactions. ‘, ‘ 🚀 Advanced Trading Tools Await You!Maximize your potential. Join now and start trading! ‘, ‘ 📈 Professional Trading PlatformLeverage advanced tools and a wide range of coins to boost your investments. Sign up now! ‘ ]; var adplace = document.getElementById(“ads-bitget”); if (adplace) { var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”)); var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex; adplace.innerHTML = adscodesBitget[adsindex]; sessperindex = adsindex === adscodesBitget.length –…
