First US Congressman Declared Bitcoin
Bob Goodlatte, Republican congressman from Virginia and chairman of the House Judiciary Committee in the US, holds as much as USD 80,000 in cryptocurrency, according to a Sludge report on Monday, citing the congressman’s annual financial disclosure.
According to Bitcoin supporters, digital currency may threaten fiat currency at certain stage of its development and government organizations won’t be able to monitor financial system. Right now one of the US congressman invests money into cryptocurrencies. He is the first who officially declared his investment in Bitcoin.
The committee’s memorandum, released June 18, requires all house members and their spouses to disclose cryptocurrency holdings over $1,000 under “Assets and Unearned Income” in their annual financial report. Further, members have a maximum of 45 days to register cryptocurrency transactions over $1,000 as the exchange of “other forms of securities”.
Goodlatte Jr. invested into CoinBase crypto exchange however, the amount invested as well as the date remain unknown. He expresses very optimistic feeling about the main virtual currency. The politician also does cryptocurrency trading but this information had not yet been confirmed.
Mess Media also report that other congressmen intend to add their digital assets to financial reports. Jared Polis, the richest democrat with a personal net worth estimated at nearly $122 million. He is one of the founders of the Congressional Blockchain Caucus which is first and foremost interested in how blockchain technology can improve government. Polis became a congressman in February this year.