US Lawmakers Introduce Bill Requiring Congress Members to Declare Crypto Transaction

  • Two US lawmakers have introduced a bipartisan bill that would require members of Congress to declare their crypto holdings.
  • The Cryptocurrency Accountability Act would make it mandatory for members of Congress to report any purchase, sale or exchange of digital assets that exceeds $1,000.
  • If lawmakers fail to file a report within 45 days of receiving notice of a crypto transaction, the bill would mandate a fine of $500 or 5% of the value of the purchase, sale, exchange or interest, whichever amount is higher.