The financial disclosure report the U.S. Rep filed with the clerk of the legislative body clearly showed her purchase of Litecoin and Ethereum last December. She becomes the second lawmaker to disclose cryptocurrency holdings in the U.S. Back in May, Virginia Republican Robert Goodlatte’s financial report made him the first congressman to officially disclose cryptocurrency holdings.
The report filed on the 14th of August revealed that Ethereum and Litecoin were purchased by the lawmaker on the 12th of December with price ranging from $1,000 TO $15,000. However, the financial report filed by Gabbard and published on Wednesday. As it does not reveal any income from her investment in both Ethereum and Litecoin. The U.S. lawmaker presently serves on the Armed Services Committee and the House Foreign Affairs Committee.
Lawmakers Required to Declare Cryptocurrency Investments
The disclosure made by the lawmaker comes after a petition was sent to the House Ethics Committee by Colorado House representative Jared Polis (D) in February. The petition urged the committee to set up guidelines for members of the Congress and staffs to disclose virtual currency holdings.
In response to the petition, the House Ethics committee released a memo mandating lawmakers to report cryptocurrency holdings of more than $1,000. The memo issued on June 18 required lawmakers who have made a sale or purchase of cryptocurrency above $1,000. Since it is to file a financial disclosure report within 45 days.
Rep Goodlatte was the first to comply with this memo when he filed a financial disclosure report that revealed that he had holdings of between $17,000 and $80,000 worth of cryptocurrency. There is an expectation that more lawmakers will follow will report cryptocurrency investments. It is most especially Polis who co-founded the Congressional Blockchain Caucus.