A recent report by Raw Story sheds light on a Republican congressman who allegedly violated a federal financial disclosure law by failing to report two crypto purchases within the required timeframe.
The congressman in question, Rep. Mike Collins (R-GA), reportedly purchased Ethereum (ETH) on October 9 and November 5. However, Collins did not publicly disclose them until December 22, well past the deadline mandated by the Stop Trading on Congressional Knowledge (STOCK) Act.
Crypto Investments And Congressional Ethics
Enacted in 2012, the STOCK Act was designed to combat insider trading, address conflicts of interest, and enhance transparency in Congress.
It requires members of Congress to publicly report most purchases, sales, and exchanges of stocks, bonds, commodity futures, securities, and crypto within 45 days. Failure to comply with these disclosure requirements can result in penalties.
According to the Raw Story report, Rep. Collins disclosed his two Ethereum purchases, each
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